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Mortgage Market Update
My Mortgage Company
Ivan Benevich
Friday, November 6, 2026
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Should you refinance instead of move? |
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One of the biggest decisions homeowners face isn't always about finding a new house—it's about whether their current one still fits their life. Let me share something that might surprise 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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Refinancing Strategy
When staying put beats moving
If you've been thinking about a bigger house or a change of scenery, it's worth running the numbers first. Moving costs money—inspections, closing costs, realtor fees, and all the logistics add up fast. But refinancing your current loan might give you the breathing room you're looking for without the upheaval. Lower payments, a shorter loan term, or cash-out options can all shift what feels possible in your current home. Sometimes the best move is staying put and adjusting the terms of what you already have. I'd be happy to walk through whether a refinance makes sense for your situation right now. Let's talk about whether refinancing could work for you.
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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
Ivan Benevich
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