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Mortgage Market Update
My Mortgage Company
Pooja Oberoi
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Rates move, and when they do, refinancing comes up. But should you actually do it?
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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 Strategy
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 long-term benefit outweighs what you'll pay upfront—and how long you plan to stay in your home. If you're thinking about moving in a few years, refinancing might cost more than it saves. But if you're settled and rates have moved meaningfully in your favor, it could be worth a closer look. I see borrowers benefit most when they have a clear timeline and realistic expectations about savings. The math matters, and so does your personal situation. Let's run the numbers together—reach out if you'd like to talk through whether refinancing 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
Pooja Oberoi
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