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Mortgage Market Update
My Mortgage Company
Emily Burris
Friday, November 6, 2026
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Does refinancing make sense for your loan? |
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One of the questions I hear most often is whether it's time to refinance. The answer is almost always: it depends.
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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 Reality
When refinancing actually makes sense
Refinancing isn't always the right move, even when rates drop. The real question is whether the savings outweigh what you'll pay to close a new loan. Some borrowers benefit right away; others need to stay put longer to break even. It depends on your timeline, how long you plan to own the home, and the closing costs involved. If you've been wondering whether now is your moment to refinance, that's worth a real conversation. I can walk through the numbers specific to your situation and show you what the math actually says—not what sounds good in theory. If you're curious whether refinancing could work for you, let's talk through it.
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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
Emily Burris
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