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Mortgage Market Update
My Mortgage Company
Lynnette Brown
Friday, November 6, 2026
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Does your loan need a second look? |
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Hi there,
One of the most common questions I hear is whether it's time to refinance. Let me break down how to think about 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 does refinancing actually make sense?
Refinancing isn't always the right move—even when rates drop. The real question is whether the benefit you'd gain covers what you'd pay to refinance. Sometimes staying put is the smarter choice. Other times, refinancing can free up monthly cash flow, shorten your loan term, or help you build equity faster. The key is running the actual numbers for your specific situation: your current loan, how long you plan to stay in your home, and where rates are today. There's no one-size-fits-all answer, which is why it pays to talk through your goals with someone who knows your loan inside and out. Reach out if you'd like to explore whether refinancing makes sense 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
Lynnette Brown
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