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THIS WEEK
Does refinancing make sense for you?
Rates move all the time, but that doesn't always mean refinancing is the right call. This week I want to walk you through how to think about it.
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RATE SNAPSHOT · November 2, 2026
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CONVENTIONAL 30-YR
7.25% 30-day Range: 7.25%–7.58%
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CONVENTIONAL 15-YR
6.70% 30-day Range: 6.59%–6.93%
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FHA 30-YR
7.08% 30-day Range: 7.08%–7.33%
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VA 30-YR
6.89% 30-day Range: 6.88%–7.25%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment · Informational only
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Smart Refinancing
When a rate drop is actually worth the switch
Not every rate movement justifies refinancing. When rates do fall, I often see borrowers wondering whether the savings will outweigh closing costs and the time involved in the process. The answer depends on your situation—how long you plan to stay in your home, your current loan terms, and how much you still owe. Some people break even in months; others need years. It's worth running the real numbers instead of guessing. If you've been curious whether now makes sense for you, I can pull your file and show you exactly what a refinance would cost versus what you'd save. No pressure, no fees—just clarity so you can decide with confidence. Let's look at your specific numbers and see if refinancing makes sense right now.
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Tip of the Week
Test your sump pump before the rainy season by pouring water into the pit — a failed pump can lead to serious basement flooding.
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Tips for Homeowners
Rate Lock Strategy: When and How Long to Lock
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1.
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A rate lock guarantees your interest rate for a set period — typically 30, 45, or 60 days. Longer locks cost more but protect you if the process takes longer than expected.
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2.
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Lock when you're under contract and confident the deal will close. Don't lock before you have a signed purchase agreement — you're paying for protection you may not need.
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3.
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If rates drop after you lock, ask your lender about a float-down option. Some lenders offer this for a fee, allowing you to take advantage of a lower rate if the market moves in your favor.
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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 Rhett Laufenburger team any time and we'll walk you through your options.
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