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Mortgage Market Update
My Mortgage Company
Darius Bryant — Darius Bryant
Friday, November 6, 2026
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Does refinancing actually help your situation? |
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Sometimes a rate change makes refinancing worth it. Sometimes it doesn't. Here's how to tell the difference.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey
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 Basics
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question isn't whether rates are lower—it's whether the math works for your situation. Some people benefit from a lower rate or shorter loan term. Others might be refinancing too late in their loan to recoup the closing costs, or they might be stretching the loan back out when they're actually closer to payoff. The key is looking at your timeline: how long do you plan to stay in the home? What are your actual costs to refinance? How much would your payment actually change? These details matter more than rate movement alone. If you've been wondering whether refinancing could help your specific situation, I'd be happy to walk through the numbers with you. Let's talk through whether refinancing makes sense 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
Darius Bryant — Darius Bryant
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