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Mortgage Market Update
My Mortgage Company
John Ludwikoski
Friday, November 6, 2026
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Is refinancing actually worth it right now? |
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A lot of homeowners ask me whether they should refinance. The honest answer depends on your personal timeline and numbers—not just rates alone.
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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 shift. The real question is whether the benefit you'd gain over time outweighs the cost to refinance. Some borrowers save money; others find their break-even point is years away. A few things shape the answer: how long you plan to stay in your home, how much you've paid down, and the current difference between your rate and what's available. If you've been wondering whether it's worth a conversation, now's a good time to run the numbers together. I can show you what your actual savings might look like, not guesses. Let's talk through whether refinancing fits 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
John Ludwikoski
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