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Mortgage Market Update
My Mortgage Company
Carlos Rivera
Friday, November 6, 2026
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Does refinancing pay off in your case? |
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Homeowners often ask whether they should refinance, and the honest answer is: it depends. Let me break down what actually matters.
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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 Timing
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates shift. The math depends on how long you plan to stay in your home, what you'd pay in closing costs, and what rate you'd qualify for today. Some people refinance to lower their payment or shorten their loan term. Others tap home equity for a major expense. But if you're planning to move in a few years, the costs might not pencil out. That's why it's worth running the numbers before you decide. I can walk through your specific situation—no obligation—and show you whether it makes financial sense for your goals. Let's talk through whether refinancing is the right step 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
Carlos Rivera
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