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Mortgage Market Update
My Mortgage Company
Janice Carroll
Friday, November 6, 2026
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Does refinancing make sense for you right now? |
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I've been thinking about refinancing a lot lately—mostly because so many of you have been asking about it. Let me share what I tell everyone who's considering 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 does refinancing actually make sense?
I get asked this a lot, and the answer depends on your situation more than you might think. Refinancing can lower your monthly payment, shorten your loan term, or switch from an adjustable to a fixed rate—but it only makes sense if the benefit outweighs the cost of the process. The right move for your neighbor might not be right for you, and that's okay. If you're curious whether refinancing could work in your favor, I'm happy to walk through the numbers with you, no pressure. It's one of those decisions worth getting clear on before you commit. Reach out if you'd like to explore whether refinancing fits your goals.
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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
Janice Carroll
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