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Mortgage Market Update
My Mortgage Company
Julio C Quintana — Julio C Quintana
Friday, November 6, 2026
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Does refinancing make sense for you? |
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Rates move, and when they do, homeowners naturally wonder if it's time to refinance. But the right answer isn't always yes—it depends on your specifics.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Refinancing Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift in your favor. The real question is whether the benefits outweigh the costs and how long you plan to stay in your home. Some people break even in a few months; others need years. It depends on your situation—how much you owe, your current rate, what new rates look like, and your timeline. A refinance can lower your payment, shorten your loan term, or switch from adjustable to fixed rates. But it's worth running the numbers first. I'm happy to walk through the math with you and show what a refinance would actually look like in your case, so you can make a confident decision. Let's talk through whether refinancing fits your goals right now.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Julio C Quintana — Julio C Quintana
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