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Mortgage Market Update
My Mortgage Company
Mischa Rytz
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Refinancing is everywhere in conversations—but not every borrower should do it. Here's how to think about whether it's right for you.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
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 does refinancing actually make sense?
Refinancing isn't always the right move—and that's okay. The real question isn't whether rates have moved, but whether the numbers work for your situation. Sometimes a lower rate saves you real money. Other times, closing costs and the time you plan to stay in your home mean refinancing doesn't pencil out. I help clients run the math honestly so you can decide with confidence, not just hope. The best refinance is one you do for the right reason, not because it sounds like a good idea. If you're wondering whether it's worth exploring, I'm happy to walk through what your numbers actually look like. Let's talk about whether refinancing makes sense 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
Mischa Rytz
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