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Mortgage Market Update
Angela Maw
Angela Maw
Friday, November 6, 2026
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Should you refinance? Here's how to decide. |
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Not every loan change is worth it—some borrowers are already in a good spot. This week, let's talk about 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 Reality
When refinancing makes sense (and when it doesn't)
Refinancing gets a lot of attention, but it's not always the right move. The main reason people refinance is to lower their monthly payment or shorten their loan term—but both only make sense if the numbers work in your favor after closing costs and fees. Sometimes you've already got a solid rate and loan, and refinancing just costs money. Other times, staying put in your current loan lets you build equity faster than starting over. The best approach is simple: run the real numbers for your specific situation, not the hypothetical ones in an ad. I'm happy to walk through what makes sense for where you are right now. Let's talk about your current loan and whether a change makes sense.
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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 Angela Maw team any time and we'll walk you through your options. |
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