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Mortgage Market Update
My Mortgage Company
Marcus Szczerbacki
Friday, November 6, 2026
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Should you refinance right now? |
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There's a lot of noise out there about when to refinance. I want to cut through it and help you figure out if it's actually worth doing.
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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 drop or your situation changes. The real question is whether the benefit outweighs the cost—and that depends on your specific numbers, how long you plan to stay in your home, and what you're trying to accomplish. Some people refinance to lower their rate, others to cash out equity for a major project, and some to switch loan types. The math is different for each scenario. That's why a straight rate comparison isn't enough; you need to understand the full picture of what refinancing would mean for your wallet over time. I'm happy to walk through whether it makes sense for you right now. Let me run the numbers and show you what refinancing could look like 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
Marcus Szczerbacki
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