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Mortgage Market Update
My Mortgage Company
Rebekah Manuel
Friday, November 6, 2026
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Does refinancing make sense for you? |
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When rates move, refinancing questions tend to follow. The truth is, whether it pencils out depends entirely on your circumstances.
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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 in your favor. The math depends on how long you plan to stay in your home, what you'd pay to refinance, and how much your monthly payment would actually drop. Some people break even in a few months; others need years to come out ahead. A refinance also resets your loan timeline—something worth thinking through carefully. The good news is that running the numbers is straightforward, and I can walk you through exactly what it would look like for your situation with no obligation. If you've been wondering whether refinancing is worth exploring, let's talk through the specifics.
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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
Rebekah Manuel
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