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Mortgage Market Update
My Mortgage Company
Quyen Nguyen — Quyen T Nguyen
Friday, November 6, 2026
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Does refinancing work for you right now? |
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Some weeks the question isn't whether rates moved, but whether making a move makes sense. Let's dig in.
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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 actually makes sense
Refinancing isn't a one-size-fits-all move, and it's not always the right call just because rates shift. The real question is whether the benefits you'd gain—lower monthly payments, a shorter loan term, or access to cash—outweigh the costs of refinancing itself. Some borrowers see a meaningful improvement in their situation; others find the math doesn't work out yet. That's why it pays to look at your specific numbers rather than chase every rate movement you hear about. If you've been wondering whether now could be the right time for you, I'm happy to walk through what refinancing would actually look like in your case—no pressure, just clarity. Let's talk through whether refinancing 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
Quyen Nguyen — Quyen T Nguyen
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