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Mortgage Market Update
My Mortgage Company
Brad Payne
Friday, November 6, 2026
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Is refinancing worth it for you right now? |
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Not every borrower should refinance—but some absolutely should. Here's how to know if you're one of them.
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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
Should you refinance your mortgage right now?
Refinancing isn't always about chasing lower rates—sometimes it's about shortening your loan term, switching from adjustable to fixed, or tapping equity for a major expense. The real question is whether the change aligns with your goals and timeline. If you've owned your home for a few years, your financial situation has shifted, or rates have moved meaningfully, it might be worth a conversation. I can walk you through the numbers and help you see if refinancing actually moves you closer to where you want to be. Let's talk through whether a refinance makes sense 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
Brad Payne
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