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Mortgage Market Update
Dunn Mortgage Team
Dunn Mortgage Team
Friday, October 23, 2026
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Should you refinance right now? |
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There's a lot of talk about refinancing, but the real answer depends on your situation. Here's how to think about it.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
6.75%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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 or your situation changes. The real question isn't whether you can refinance, but whether the benefits outweigh the costs and time involved. If you've built equity, improved your credit, or want to adjust your loan term, refinancing might work. But if you're planning to move soon or the numbers don't pencil out, staying put is often smarter. I help borrowers run the math honestly so they know what to expect before moving forward.
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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 Dunn Mortgage Team team any time and we'll walk you through your options. |
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3111 Camino Del Rio North San Diego, CA 92108
619.815.3366 | http://www.PatrickDunnTeam.com
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