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Mortgage Market Update
My Mortgage Company
The Bank With Will Team
Friday, November 6, 2026
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Should you reconsider your current loan? |
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Hi there — I want to share something I talk about often with people who've been in their homes for a few years.
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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 staying put costs you money
A lot of people think refinancing is only worth it if rates drop dramatically. But the math isn't always that simple. If market conditions have shifted, your credit has improved, or your home has gained value, your refinancing picture may have changed even if rates look similar to when you bought. Refinancing isn't free — there are costs involved — but the right move at the right time can lower your total interest paid, shorten your loan term, or simply give you breathing room in your monthly budget. The key is understanding whether the numbers actually work for your specific situation, not just chasing a rate quote. If you'd like to see whether refinancing makes sense for you, I'm happy to walk through the numbers.
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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
The Bank With Will Team
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