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Mortgage Market Update
Denise Marquez
Denise Marquez
Saturday, November 7, 2026
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California's new down payment help + starter homes gain momentum |
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This week brings some genuinely encouraging news for homebuyers: new programs designed to make homeownership more affordable are rolling out, and lawmakers across the country are waking up to the starter home shortage. Here's what it means for your wallet.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.09%
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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 Reality
When refinancing actually makes sense
Refinancing isn't always the right move—even when rates drop. The real question isn't whether rates are lower; it's whether the benefit you'd gain covers the cost of the refi itself. Some people break even in a few months. Others need years to come out ahead. The answer depends on how long you plan to stay in your home, your current loan terms, and what you'd refinance into. If you've been thinking about it, now's a good time to run the actual numbers instead of guessing. I can show you whether a refi would genuinely save you money or just cost you in closing costs and time.
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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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Realtor.com
California voters approved new housing bonds and a down payment assistance program aimed at helping more people afford homes. If you're a buyer struggling with the down payment hurdle, programs like these can be a real game-changer—and other states are likely watching closely to see what works.
| Key takeaway: check whether your state or local government has similar down payment help programs in the works, since this trend is spreading. |
Read full article →
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Realtor.com
Housing experts say this year has been pivotal for starter homes, and new legislation could unlock over 100,000 new affordable homes annually. For first-time buyers, this signals that the supply crunch may finally be easing—which could mean more options and better pricing power in the coming years.
| Key takeaway: if you've been waiting to buy because there's nothing in your budget, hold tight—the pipeline for affordable homes is expanding. |
Read full article →
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Realtor.com
Housing advocates and builders in Texas are working together on sweeping reforms to boost affordability, building on years of progress. When builders and lawmakers align on creating more affordable homes, it tends to benefit buyers through increased supply and competitive pricing.
| Key takeaway: states working toward bipartisan housing solutions often see faster price stabilization and more inventory for everyday buyers. |
Read full article →
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Realtor.com
Rates dipped again this week following recent election results, continuing a downward trend that's been building momentum. Even small rate moves can add up to real savings on your monthly payment, so this shift is worth monitoring if you're in the market or considering a refinance.
| Key takeaway: check the current rate card this week and lock in if rates align with your goals—momentum can reverse. |
Read full article →
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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 Denise Marquez team any time and we'll walk you through your options. |
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808 RT 15 S, Lake Hopatcong, NJ 07849
201-456-7475 | https://www.dm-mtg.com/
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