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Mortgage Market Update
My Mortgage Company
Jody Dupuis
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Not every rate move calls for a refinance. Let me share what actually matters when you're considering one.
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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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Refinance Reality
When refinancing actually makes sense
Refinancing gets a lot of buzz, but it's not a universal solution. The real question isn't whether rates have moved—it's whether a new loan improves your financial picture. That means looking at your current loan terms, how long you plan to stay in your home, and what the cost of refinancing would be. Sometimes a rate drop pencils out beautifully. Sometimes it doesn't, even if rates look attractive. The math is personal to your situation. I've seen borrowers save real money by refinancing, and I've also steered people away from it because the numbers didn't work. That honest conversation is what matters. If you're curious whether refinancing could benefit you, let's talk through the specifics of your loan and goals. Reach out if you'd like me to walk through whether refinancing makes sense for your home.
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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
Jody Dupuis
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