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Mortgage Market Update
My Mortgage Company
Luis Treto
Friday, November 6, 2026
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Does it make sense to refinance right now? |
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There's a question I get asked a lot these days, and the answer almost always depends on your personal situation.
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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 actually makes sense
Refinancing isn't always the right move, even when rates look tempting. The real question is whether the long-term savings justify the upfront costs and the reset of your loan timeline. Sometimes a lower rate saves you money. Sometimes staying put costs you less. The math depends on how long you plan to stay in your home, your current loan balance, and how your new terms compare to what you have now. I see borrowers make this decision confidently when they understand their actual numbers—not just the advertised rate. If you're curious whether refinancing could work for your situation, I'm happy to walk through what it would look like. Let's talk through your specific scenario and see if it makes sense for you.
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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
Luis Treto
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