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Mortgage Market Update
My Mortgage Company
Donivan Norton
Friday, November 6, 2026
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Does refinancing make sense for you right now? |
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Not every borrower should refinance, and not every time is the right time. Here's what to consider before making a move.
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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 sounds like an obvious money move, but the math only works in certain situations. It's worth considering if your credit has improved, if rates have moved meaningfully lower, or if you want to adjust your loan term. But it's not right for everyone—especially if you're planning to move soon or if closing costs would take years to recoup. The key is running the real numbers for your specific situation, not just chasing a headline rate. I can help you figure out whether a refinance actually pencils out for you, or if your money is better spent elsewhere. Worth a conversation if you've been wondering about it. Let's talk through whether refinancing makes sense for your home and timeline.
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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
Donivan Norton
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