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Mortgage Market Update
Marc Hayes
Marc Hayes
Friday, November 6, 2026
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When should you actually refinance? |
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Every homeowner reaches a point where they wonder if refinancing is worth it. The answer depends on your numbers, not on what anyone else is doing.
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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 Strategy
When does refinancing actually make sense?
Refinancing gets a lot of attention, but the real question isn't whether you can do it—it's whether it moves you closer to your goals. Some people refinance to lower their payment, others to shorten their loan term or tap equity for home improvements. The catch is that refinancing costs money upfront, so the benefit has to outweigh those costs over the time you plan to stay in your home. There's no one-size-fits-all answer, which is why it pays to run the actual numbers for your situation. I'm happy to walk through whether refinancing could work for you or if holding steady makes more sense right now. Let's talk through whether a refinance pencils out 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 Marc Hayes team any time and we'll walk you through your options. |
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