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Mortgage Market Update
Mark Succarotte
The Succarotte Team
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Hi there—I've had a few questions lately about whether this is a good time to refinance. Let me share how I think about that decision.
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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 does a refi actually make sense?
Refinancing sounds simple—lower your rate, lower your payment—but there's more to the math. The real question is whether you'll stay in your home long enough for the savings to outweigh the costs of refinancing. It's not just about rate drops either. Maybe you want to shorten your loan term, tap your equity for home improvements, or switch from an adjustable to a fixed rate for peace of mind. Every situation is different, and the numbers need to work for your timeline and goals, not just the headline rate. If you've been curious whether a refi makes sense for you, I'd like to walk through the actual numbers so you can decide with confidence. Let's talk through whether refinancing is the right move for your situation.
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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 Mark Succarotte team any time and we'll walk you through your options. |
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