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Mortgage Market Update
My Mortgage Company
Ashley Turner - For Deletion
Friday, November 6, 2026
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Should you refinance right now? |
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It's easy to hear 'refinance' and assume it's always a smart move. The truth is more nuanced, and it depends on your specific goals.
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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 a one-size-fits-all move. It can make real sense if rates drop enough to lower your payment or shorten your loan term, or if you've built equity and want to tap it for something important. But it also comes with closing costs and a reset of your loan timeline, so the math has to work in your favor. The key is understanding your own situation: how long you plan to stay in the home, what you're trying to accomplish, and whether the benefit outweighs the cost. I run this analysis for borrowers all the time, and it usually takes just a conversation or two to get clarity. If you've been wondering whether now is your moment to refinance, that's exactly what I'm here to help you figure out. Let's talk through whether refinancing is right for you — just reach out.
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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
Ashley Turner - For Deletion
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