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Mortgage Market Update
My Mortgage Company
Solymar Gonzalez
Friday, November 6, 2026
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Does refinancing make sense for you? |
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Hi there. I've had a few questions lately about whether homeowners should refinance, so I thought I'd share some straight talk about when it actually works in your favor.
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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?
A lot of homeowners ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term benefit outweighs the costs and time involved. I look at things like how long you plan to stay in your home, what your current rate and loan terms are, and how much equity you've built. Sometimes a refinance is a smart financial decision. Sometimes holding steady is the better call. That's why a conversation with me beats guessing—I can walk through the real numbers for your specific scenario and help you see whether it makes sense to move forward. If you've been wondering whether a refinance pencils out for you, I'd be glad to take a look at your loan and talk through it.
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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
Solymar Gonzalez
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