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Mortgage Market Update
My Mortgage Company
Lindsay Kinniburgh
Friday, November 6, 2026
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When should you actually refinance? |
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Some weeks bring clarity to a decision you've been sitting with. This might be 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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Refinancing Strategy
When does refinancing actually make sense?
Refinancing can feel like the obvious move when rates shift, but it's worth stepping back and doing the math. The real question isn't whether rates are lower—it's whether the benefit you'd gain over time covers the cost of refinancing itself. Some people break even in months; others take years. That depends on your situation: how long you plan to stay in your home, what your current rate and balance are, and what options are available to you right now. It's one of those decisions that looks different for everyone, which is why a conversation beats a guessing game. I'm here to walk through the numbers and help you see if it makes sense for you specifically. 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
Lindsay Kinniburgh
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