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Mortgage Market Update
My Mortgage Company
Stacey Elshehaby
Friday, November 6, 2026
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Does refinancing make sense for you right now? |
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Some weeks I field a lot of questions about refinancing. This week I want to cut through the confusion and help you think clearly about whether it's actually worth considering.
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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)
Refinancing isn't always the right move, even when rates drop. The real question is whether the long-term benefit outweighs the upfront cost and time it takes to close. Some borrowers see a real advantage; others find it's not worth the effort. It depends on how long you plan to stay in your home, how much equity you have, and where your loan sits today. I talk to people all the time who are curious but unsure if it's worth exploring. That's exactly what I'm here to help you figure out—no obligation, just straight answers about whether it makes sense for your situation. Reach out if you'd like to walk through the numbers together.
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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
Stacey Elshehaby
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