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Mortgage Market Update
My Mortgage Company
Andrew Weinberg
Friday, November 6, 2026
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Is refinancing worth it for your situation? |
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Refinancing gets a lot of attention, but it's not right for everyone. Here's what actually matters when you're deciding.
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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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Refinance 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 savings over time justify the costs and effort of a new loan. Some people refinance to lower their payment or shorten their loan term. Others tap equity for a major expense. But if you're only a few years into your mortgage, or planning to move soon, refinancing might not pencil out. I help borrowers run the real numbers—not just the marketing version—so you can decide with confidence. If you've been curious whether it's worth exploring, let's talk through your specific situation. Reach out if you'd like to discuss whether refinancing fits your goals right now.
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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
Andrew Weinberg
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