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Mortgage Market Update
My Mortgage Company
Griffin Stephens
Friday, November 6, 2026
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Refinancing worth it? Depends on your situation |
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Not every financial move makes sense for every homeowner. This week, let's look at when refinancing actually pays off—and when it's better to hold steady.
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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 outweighs the cost and effort—and that answer changes based on your situation. Some homeowners see a meaningful drop in their monthly payment or total interest paid. Others find that closing costs and time make it a wash. The key is running the actual math for your loan, your timeline, and your goals. If you're wondering whether it's worth exploring for your home, I can walk you through the numbers in about ten minutes. There's no obligation—just clarity. Reach out and we can talk through whether refinancing is worth your time right now.
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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
Griffin Stephens
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