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Mortgage Market Update
My Mortgage Company
Carlos Rivera
Friday, November 6, 2026
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Does refinancing actually pay off for you? |
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Hi there—here's something I get asked about a lot, especially when the lending market moves. Let me break down how to tell if refinancing is worth your time and money.
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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
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates dropped—it's whether the math works for your specific situation. You'll want to think about how long you plan to stay in your home, what you'd pay in closing costs, and whether a lower rate would actually save you money over time. Sometimes keeping your current loan is the smarter choice. That's why it helps to run the numbers with someone who knows your full picture, not just someone selling you on the idea. I'm here to walk through the real pros and cons so you can make the decision that's right for you. Reach out if you'd like to see whether refinancing pencils out 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
Carlos Rivera
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