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Mortgage Market Update
My Mortgage Company
Adam Felkey
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Rates move all the time, and whenever they do, refinancing questions come up. Here's how to know if it's actually worth your time.
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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 Readiness
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates have moved—it's whether a new loan makes financial sense for your situation. Some borrowers benefit from refinancing to lower their rate or adjust their loan term. Others are better off staying put. The math depends on how long you plan to stay in your home, what you'd owe to refinance, and how your current loan compares to what's available now. If you've been thinking about this, a conversation with me takes the guesswork out of it. I can walk you through whether a refinance pencils out for you or if holding steady is smarter. Let's look at your loan together and see if refinancing is worth exploring.
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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
Adam Felkey
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