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Mortgage Market Update
My Mortgage Company
Armond Ohan
Friday, November 6, 2026
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Should you refinance your mortgage? |
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Refinancing comes up a lot, but it's not one-size-fits-all. Here's how to think about it.
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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
A lot of people ask me whether they should refinance, and the honest answer is: it depends on your situation. Refinancing isn't always the right move, even if rates look attractive. What matters most is how long you plan to stay in your home, what your current loan terms are, and how the new numbers compare to what you're paying now. The goal isn't to chase rates—it's to improve your financial position. Sometimes staying put is the smartest choice. That's why I always recommend we run the real numbers together before you make a decision. No guessing, no pressure. If you're wondering whether refinancing could work for you, let's talk through it.
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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
Armond Ohan
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