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Mortgage Market Update
My Mortgage Company
David Martel Powered By Barrett Financial Group
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Sometimes the best financial move is staying the course. Other times, a fresh look at your mortgage opens up real opportunities.
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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 it makes sense to refinance your loan
Refinancing isn't just about chasing lower rates—it's about whether the math actually works for your situation. Some people benefit from shortening their loan term, others from lowering their monthly payment, and some from tapping home equity for a major expense. The key is comparing what you'd save over time against the costs to refinance. If you've been in your home a few years, your credit has improved, or your circumstances have shifted, it might be worth a conversation. I can walk you through whether refinancing makes sense for you, or if staying put is the smarter move 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
David Martel Powered By Barrett Financial Group
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