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Mortgage Market Update
My Mortgage Company
Keith Collins — Keith Collins
Friday, November 6, 2026
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Does refinancing make sense for you right now? |
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Hello,
Not every financial move is right for every homeowner. This week I want to break down when refinancing actually pencils out.
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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 Strategy
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The real question is whether the long-term benefit outweighs the upfront costs and time involved. If you're planning to stay in your home, have built meaningful equity, and the numbers work in your favor, it can be worth exploring. But if you're uncertain about your timeline or your finances are tight, refinancing might create stress you don't need. The best way to know is to run the math for your specific situation—and that's exactly what I can help you do. There's no obligation, and no pressure. I'm here to give you a clear picture of whether it makes sense for you. Reach out if you'd like to 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
Keith Collins — Keith Collins
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