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Mortgage Market Update
My Mortgage Company
Rebekah Manuel
Friday, November 6, 2026
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Should you refinance your mortgage? |
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Some weeks I get a lot of questions about refinancing. Here's what actually matters when you're deciding whether to pull the trigger.
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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 Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The main question is whether the long-term savings justify closing costs and the time involved. Sometimes a refi pencils out beautifully; other times you're better off staying put. It depends on how long you plan to stay in your home, your current loan terms, and what's available to you now. I help borrowers run the real numbers—not the sales pitch—so you can make a decision that actually works for your situation. If you've been thinking about refinancing but aren't sure if it's worth it, let's talk through the specifics. Reach out if you'd like to explore whether refinancing makes sense for you 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
Rebekah Manuel
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