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Mortgage Market Update
My Mortgage Company
Cinda Oehlke - For Deletion
Friday, November 6, 2026
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When does refinancing actually make sense? |
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Hi there. I get asked about refinancing all the time, and the answer is almost never as simple as "rates went down, so do it."
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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 actually makes sense
A lot of people assume refinancing is only worth it if rates drop significantly. But there's more to it than that. Refinancing can make sense if you're looking to shorten your loan term, switch from an adjustable to a fixed rate, tap into home equity, or even consolidate debt—depending on your situation and how long you plan to stay in your home. The key is understanding your own goals first, then running the numbers to see if a refinance aligns with them. If you're wondering whether it might be right for you, I'd be happy to walk through your options with no pressure. Send me a message or call if you'd like to explore whether refinancing could work for your situation.
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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
Cinda Oehlke - For Deletion
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