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Mortgage Market Update
My Mortgage Company
Marcell Walker
Friday, November 6, 2026
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Should you refinance right now? |
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Rates move, but that doesn't always mean it's time to refinance. Here's how to know the difference.
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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 real question isn't whether rates dropped—it's whether a new loan actually improves your situation over time. You'll want to think about how long you plan to stay in your home, what fees a new loan would cost, and how much your payment would actually change. Sometimes refinancing pencils out beautifully. Other times, you're better off keeping what you have. I've seen borrowers get excited about a rate move only to realize the math didn't work for their timeline. That's why it's worth running the numbers before you decide. If you're wondering whether refinancing could help your situation, I'd be happy to walk through the specifics with you—no obligation. Let me know if you'd like to explore whether refinancing makes sense for your loan.
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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
Marcell Walker
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