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Mortgage Market Update
Ginny Foster
Ginny Foster
Friday, November 6, 2026
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When refinancing actually pays off |
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Refinancing gets a lot of attention, but it's not the right answer for everyone. Let me help you figure out if it might be right for you.
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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 does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The real question is whether the benefit you'd gain is worth the time and cost to refinance. Some people are in loans that work perfectly for their situation—maybe they're near the end of their term, or their payment is already comfortable. Others might be in a better position to refinance if their circumstances have changed: maybe your credit has improved, you've built equity, or your income is more stable than it was at closing. The key is looking at your individual numbers, not just headlines about rates moving. That's where a straightforward conversation can help you see if refinancing makes sense for you right now. If you're wondering whether refinancing is worth exploring, 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 Ginny Foster team any time and we'll walk you through your options. |
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