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Mortgage Market Update
Albert Miller
Albert Miller
Friday, November 6, 2026
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Does refinancing make sense right now? |
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A lot of homeowners wonder if they should refinance. The answer depends on your individual situation—not just the rates.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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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 Strategy
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 new loan terms and costs make financial sense for your situation. Some people benefit from a rate drop or switching loan types. Others find they're in a good spot and don't need to move. The math depends on how long you plan to stay in your home, your current loan balance, and what you'd actually pay in closing costs. It's worth running the numbers, but there's no one-size-fits-all answer. I'm happy to walk through what refinancing could (or couldn't) do for you. Let's talk about whether a refinance makes sense in your case.
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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 Albert Miller team any time and we'll walk you through your options. |
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