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Mortgage Market Update
My Mortgage Company
Brandon Shelton
Friday, November 6, 2026
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Should you refinance? Let's find out. |
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Not every homeowner should refinance, and not every borrower should do it right now. But if you've been curious about your options, here's what matters most.
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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 it make sense to refinance?
Refinancing isn't one-size-fits-all. Some people refinance to lower their rate and reduce monthly payments. Others use it to tap into home equity for a large expense or to switch from an adjustable rate to a fixed one for peace of mind. The catch: refinancing involves costs and a new loan application, so it only pencils out if the benefit outweighs what you'll pay. That math is different for every borrower and every situation. If you're wondering whether refinancing might work for you—or whether now is the right time—I'd love to walk through the numbers. Let's talk about what makes sense for your specific goals. Reach out if you'd like to explore whether refinancing could work 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
Brandon Shelton
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