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Mortgage Market Update
Jesse Moorhouse
Jesse Moorhouse
Friday, November 6, 2026
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Should you refinance right now? |
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Hi there—this week I want to talk about one of the most common questions I hear: when does it actually make sense to refinance?
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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 rate drop is worth a second look
Not every rate change calls for a refinance—but some do. The math depends on how long you plan to stay in your home, what you'd pay to refinance, and how much your monthly payment would actually drop. If rates have moved meaningfully lower since you locked in your loan, it might be worth running the numbers. Even a small monthly savings adds up over time, and sometimes the real win is shortening your loan term or switching from adjustable to fixed without a rate advantage at all. The trick is knowing which move makes sense for your situation, not just chasing the lowest number on the rate sheet. If you're curious whether refinancing could work for you, I'd be happy to walk 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 Jesse Moorhouse team any time and we'll walk you through your options. |
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