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Mortgage Market Update
My Mortgage Company
River Fox Lending
Friday, November 6, 2026
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Does refinancing make sense for you? |
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Not every homeowner should refinance, and not every market moment calls for it. Let's look at what actually matters when you're deciding.
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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 shift. The real question is whether the long-term benefit outweighs the upfront cost and time involved. Some people refinance to lower their rate, others to shorten their loan term, and some to tap equity for a major expense. But if you're only staying in your home a few more years, the savings might not justify the process. The best refinance decisions come down to your specific situation—how long you plan to stay, what your current terms are, and what you're actually trying to achieve. I'd be happy to walk through whether it makes sense for you right now. Let's talk through whether refinancing could work for your situation.
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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
River Fox Lending
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