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Mortgage Market Update
My Mortgage Company
Paige Bowman
Friday, November 6, 2026
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Should you refinance your mortgage? |
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Hi there. I get asked about refinancing all the time, and the answer is never a simple yes or no. Let me break down 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 does refinancing actually make sense?
Refinancing isn't always the right move—even when rates drop. The real question is whether the benefit you'd gain over time outweighs the costs and effort involved. Sometimes a rate dip of a tenth or two won't move the needle on your payment. Other times, your situation has shifted (better credit, more equity, shorter timeline) and a fresh look at your loan makes real sense. The only way to know is to run the actual numbers on your specific loan. I'm happy to walk through what a refinance would actually cost and save you—no obligation, just clarity. Let's talk through whether it makes sense for where you are right now. Reach out and I'll show you what your options look like.
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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
Paige Bowman
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