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Mortgage Market Update
Kenna Siders
Kenna Siders
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Hi there. This week I want to cover a topic that comes up often—and one where the right answer really depends on your personal situation.
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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
When it makes sense to refinance your mortgage
A lot of people think refinancing only matters when rates drop dramatically. The truth is more nuanced. You might refinance to lower your monthly payment, shorten your loan term, tap into home equity, or switch from an adjustable rate to a fixed one. The decision depends on your situation—how long you plan to stay in the home, what you owe versus what it's worth, and your current rate compared to what's available. Sometimes the math works beautifully; sometimes it doesn't. That's why it's worth a real conversation about your specific numbers and goals. I can walk you through the pros and cons without any pressure. If you've been wondering whether refinancing makes sense for you, let's talk through it together.
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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 Kenna Siders team any time and we'll walk you through your options. |
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