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Mortgage Market Update
My Mortgage Company
Jesse Crawford
Friday, November 6, 2026
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Refinancing: does it work for you? |
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A rate drop can feel like the right time to refinance, but timing and your personal plan matter just as much as the numbers. 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 Basics
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 the benefit over time outweighs the cost of the new loan. Some people refinance to lower their rate and payment. Others do it to change loan length, tap equity, or switch from adjustable to fixed. But if you're planning to move soon, the savings might not materialize before you leave. That's why it helps to talk through your timeline and goals before pulling the trigger. I can walk you through the numbers specific to your situation and help you figure out if it pencils out for you. Let's discuss whether refinancing could work for your goals—reach out anytime.
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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
Jesse Crawford
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