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Mortgage Market Update
Brandy Harris
Brandy Harris
Friday, November 6, 2026
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Refinancing isn't for everyone—here's why |
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Hi there. Sometimes the best financial move is doing nothing. This week I want to talk about when refinancing is worth it—and when it isn't.
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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 Basics
When does refinancing actually make sense?
Refinancing isn't always the right move, even when rates drop. The math depends on how long you plan to stay in your home, what you'd pay in closing costs, and how much your payment would actually change. Some people refinance to lower their rate, others to shorten their loan term or tap equity for a project. The key is understanding your own situation—not just what rates are doing. If you've been wondering whether it's worth exploring, I can walk you through the numbers specific to your loan and help you see whether a refinance would actually put you ahead. There's no obligation to move forward, but the conversation itself is often eye-opening. Let's talk about whether refinancing makes sense for you right now.
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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 Brandy Harris team any time and we'll walk you through your options. |
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