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Mortgage Market Update
My Mortgage Company
Sean Rigsby
Friday, November 6, 2026
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Is refinancing actually worth it for you? |
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Sometimes the smartest financial move is doing nothing. Other times, it's taking action—but only if the numbers back it up.
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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 Reality
Why your old rate doesn't tell the whole story
If you locked in a mortgage rate a few years ago, you might be wondering whether refinancing makes sense now. The answer isn't just about whether rates have moved—it's about whether the math works for your specific situation. Refinancing means closing costs, a new loan term, and time. Some borrowers break even in months; others take years. The right move depends on how long you plan to stay in your home, what you owe, and what your new terms would look like. That's why a real conversation with me beats guessing. I can show you the actual numbers and help you decide whether refinancing is worth it. Let's talk through your refinance options—reach out whenever you're ready.
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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
Sean Rigsby
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