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Mortgage Market Update
Robert Hendley
Robert Hendley
Friday, November 6, 2026
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Thinking about refinancing? Start here |
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Sometimes the best financial move is knowing when not to make one. This week, let's talk about refinancing and how to know if it's right for your home and wallet.
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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 a refi makes sense (and when it doesn't)
Refinancing sounds good in theory—lower payments, less interest paid over time. But it only pencils out if the math works for your situation. The key question is simple: will you stay in the home long enough to recoup the costs of refinancing? If you're planning to move within a few years, a refi might not be worth it. But if you're settling in, or if your financial picture has improved since you bought, it could be a smart move. I always recommend running the numbers first rather than guessing. There's no one-size-fits-all answer, which is exactly why it pays to talk through your specific circumstances before deciding. Reach out anytime you're curious whether refinancing could work for you—I'm happy to walk through the details.
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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 Robert Hendley team any time and we'll walk you through your options. |
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