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Mortgage Market Update
My Mortgage Company
Ken Osako
Friday, November 6, 2026
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Does refinancing make sense for you? |
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Refinancing your mortgage is a big decision, and it's not right for everyone. Let me break down what you should actually think about.
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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 refinancing makes sense (and when it doesn't)
A lot of homeowners ask whether they should refinance, and the answer really depends on your specific situation. The main reason people refinance is to lower their monthly payment or shorten their loan term — but there are costs involved in refinancing, so it only works if the math actually pencils out for you. Other reasons include switching from an adjustable rate to a fixed one, or tapping into home equity for a big expense. The timing matters too. If you're thinking about refinancing, it's worth having a conversation about whether your current loan, timeline, and goals make it a smart move right now. I'd be happy to walk through your options and see if 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
Ken Osako
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