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Mortgage Market Update
My Mortgage Company
Cesar Gastiaburu
Friday, November 6, 2026
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Is refinancing worth it for you right now? |
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I talk to homeowners every week about refinancing—some find it's a smart move, and others realize they're better off staying put. 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 Strategy
When does a refi actually make sense?
Refinancing gets a lot of attention, but it's not right for everyone or every situation. The real question isn't whether rates have moved—it's whether your specific circumstances have changed in a way that refinancing would improve. Maybe your credit score has climbed since you bought. Maybe you've built meaningful equity. Maybe your life plans have shifted and a different loan term would fit better now. Or maybe rates have moved enough that the math works in your favor. Each of these is a different reason to explore a refinance. I'd rather talk through your actual situation than push you toward something that doesn't serve you. If you've been wondering whether it's worth looking into, let's have that conversation. Reach out if you'd like to explore whether refinancing makes sense for your home and finances.
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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
Cesar Gastiaburu
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