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Mortgage Market Update
Kelly King
Kelly King
Friday, November 6, 2026
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Does refinancing make sense for you? |
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Hi there. I wanted to share something I hear about pretty often—should I refinance my mortgage?
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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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Refinance Strategy
When does refinancing actually make sense?
A lot of folks ask me if they should refinance, and the truth is it depends on your specific situation. The main thing to look at is whether the money you'd save on your monthly payment or interest over time outweighs the cost of refinancing. If you're planning to stay in your home for a while, the math often works in your favor—but if you're thinking about selling soon, it might not. Beyond the numbers, refinancing can also help if you want to tap into your home's equity for repairs or consolidate debt. The best move is to run the numbers for your own scenario, and I'm here to walk through that with you anytime. If you're curious whether refinancing could work for you, let's talk through your options.
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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 Kelly King team any time and we'll walk you through your options. |
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