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Mortgage Market Update
My Mortgage Company
Angela Walters
Friday, November 6, 2026
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Does refinancing make sense for you? |
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Refinancing comes up a lot this time of year, and I want to help you figure out if it's the right move for your home and your finances.
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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 Strategy
When does refinancing actually make sense?
A lot of homeowners ask me if they should refinance, but the honest answer depends on your situation. Refinancing makes the most sense when your goals align with the math—whether that's lowering your monthly payment, shortening your loan term, or tapping into equity for a big expense. But it also comes with closing costs and a new timeline, so it's worth looking at the full picture before moving forward. The best time to explore it is when rates move in your favor, but also when you plan to stay in your home long enough to recoup those costs. I'm happy to walk through your numbers and show you whether it pencils out for you. Let's talk about whether refinancing fits your goals 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
Angela Walters
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