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Mortgage Market Update
My Mortgage Company
Miguel Morales
Friday, November 6, 2026
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Should you refinance your mortgage? |
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Hi there. This week I want to touch on a question I hear pretty often: 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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Refinance Readiness
When refinancing makes sense for your situation
Refinancing isn't right for everyone, but it's worth understanding when it could actually work in your favor. Maybe your credit has improved since you got your original mortgage, or life circumstances have shifted. Maybe you're wondering if you should lock in a different rate or loan term. The real question is whether the benefits outweigh the costs of refinancing—and that answer is different for every homeowner. I can walk you through whether a refinance pencils out for you right now, what your options look like, and what the actual timeline and process would be. There's no obligation; it's just about having clear information so you can decide with confidence. Let's talk through whether refinancing could benefit 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 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
Miguel Morales
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