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Mortgage Market Update
My Mortgage Company
Gonzalo Lopez
Friday, November 6, 2026
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Does refinancing pencil out for you? |
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Rates move all the time, and when they do, I hear a lot of "Should I refinance?" questions. The honest answer is that it depends on your specific circumstances.
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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 Strategy
When refinancing makes sense (and when it doesn't)
Refinancing isn't always the right move, even when rates shift. The real question is whether your new loan pays for itself over the time you plan to stay in your home. Some people break even quickly; others take years. It depends on your current rate, how much equity you have, how long you're staying put, and what the new terms would actually be. If you've built solid equity and your financial picture has improved since you got your mortgage, it might be worth exploring. But if you're unsure, that's exactly when a conversation with me helps most. I can show you the actual math for your situation—no guessing. 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
Gonzalo Lopez
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