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Mortgage Market Update
My Mortgage Company
StorBelow
Friday, November 6, 2026
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Should you refinance? Here's how to tell. |
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One of the most common questions I hear is whether now's a good time to refinance. The answer isn't one-size-fits-all — it depends on your goals and timeline.
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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?
A lot of people ask me if they should refinance, and the honest answer is: it depends on your specific situation. Refinancing isn't always the right move, even when rates shift. What matters is how long you plan to stay in your home, what your current loan terms are, and how a new loan would change your monthly payment and total interest paid over time. Sometimes refinancing saves real money. Sometimes you're better off staying put. I can walk you through the math so you know which camp you're in. Let's talk through whether refinancing makes sense for you right now.
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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
StorBelow
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