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Mortgage Market Update
Denise Marquez
Denise Marquez
Friday, November 6, 2026
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Rates dropping + more homes being built |
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Good news this week: mortgage rates are heading down, and cities are finally getting serious about building more homes. Here's what it means for your wallet and your search.
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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 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
After the recent election, mortgage rates have dropped for three straight weeks, giving buyers a bit of breathing room. Lower rates make monthly payments more affordable and can shift which homes fit your budget. If you've been waiting on the sidelines, this could be worth revisiting with your lender.
| Key takeaway: falling rates can make homes you thought were out of reach suddenly feel manageable again. |
Read full article →
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Realtor.com
A record number of first-time homebuyers—about 1 in 10—are now able to buy with all cash, thanks to inheritances and family financial help. This shift is changing the competitive landscape for traditional mortgage buyers. Understanding this trend can help you think strategically about your own offer and timeline.
| Key takeaway: if you're financing a home, you're competing against more all-cash offers than ever before, so getting pre-approved and moving quickly matters. |
Read full article →
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Realtor.com
LA's new mayor is committed to tripling homebuilding as a way to tackle both housing affordability and homelessness. More construction means more inventory, which typically eases competition and can moderate prices over time. If you're shopping in California, this policy shift could eventually work in your favor.
| Key takeaway: more homes being built in your market can mean better selection and less bidding wars down the road. |
Read full article →
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Realtor.com
After winning on affordability concerns, Democratic leaders are signaling they'll focus on bringing housing costs down in 2027. This could mean new policies, incentives, or programs aimed at helping everyday buyers and homeowners. Keep an eye on local and national policy announcements—some may directly affect your buying power or refinancing options.
| Key takeaway: affordability-focused policies being debated now could open up new opportunities or assistance programs for buyers in the year ahead. |
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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