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Mortgage Market Update
My Mortgage Company
Ed - Regional Mortgage
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Not every borrower should refinance—and that's okay. Here's how to know if it's worth exploring for you.
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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
A lot of homeowners ask me if they should refinance, and the honest answer is: it depends on your situation. Refinancing makes sense when the benefits outweigh the costs and effort—but that's different for everyone. Your loan term, how long you plan to stay in the home, current equity, and what you're trying to accomplish all matter. Some people refinance to lower their payment or shorten their loan term. Others tap equity for a big project or to consolidate debt. The key is running the real numbers for your specific circumstances, not just comparing interest rates. I'm here to help you figure out whether it's the right move for you. Let's talk through whether refinancing could work for your goals.
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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
Ed - Regional Mortgage
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