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Mortgage Market Update
My Mortgage Company
Nolan Kitkoski
Friday, November 6, 2026
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Does refinancing pencil out for you? |
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Not every rate drop is a sign to refinance. Here's how to decide if it's worth your time.
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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 Strategy
When does refinancing actually make sense?
Refinancing isn't always the right move—even when rates look attractive. The real question is whether the monthly savings justify the cost and time involved in applying, closing, and starting a new loan. Some borrowers come out ahead after a few months. Others need years to break even. The answer depends on your situation: how long you plan to stay in your home, what you'd pay in closing costs, and where rates stand against your current rate. It's worth doing the math before you commit. I can help you figure out if refinancing makes sense for your specific loan and timeline. Let's talk through whether refinancing is worth exploring for your mortgage.
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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
Nolan Kitkoski
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