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Mortgage Market Update
My Mortgage Company
Michael DeLeonardis
Friday, November 6, 2026
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Does refinancing actually make sense for you? |
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Not every rate move means you should refinance your mortgage. This week, I'm breaking down how to know the difference.
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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 isn't whether rates dropped—it's whether the math actually works for your situation. You'll want to think about how long you plan to stay in your home, what your current loan terms are, and how a new loan would change your monthly payment and total interest. Sometimes a rate change is too small to justify the cost of refinancing. Sometimes it's perfect timing. The only way to know is to run the numbers with someone who knows your full picture. I'm here to walk through the specifics whenever you're ready. Let's talk through whether refinancing could work for you 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
Michael DeLeonardis
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