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Mortgage Market Update
Michael Radcliffe
The Rad CRM
Friday, November 6, 2026
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Does refinancing make sense right now? |
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Hi there—I wanted to touch on a question I hear often this time of year. Whether you're thinking about refinancing or just curious how it works, I've put together some honest perspective.
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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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Refinance Basics
When refinancing makes sense (and when it doesn't)
A lot of homeowners assume refinancing is always worth exploring when rates move. The truth is more nuanced. Refinancing can lower your monthly payment, shorten your loan term, or help you tap into equity—but it also comes with costs and a new application process. The real question isn't whether rates are lower; it's whether the benefit you'd gain outweighs what you'd spend to make the switch. Sometimes it does. Sometimes you're better off staying put. I can walk through the numbers with you and show you what a refinance would actually look like for your situation—no obligation, just clarity. That's the only way to know if it makes sense right now. Let's talk through whether refinancing is the right move for you.
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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 Michael Radcliffe team any time and we'll walk you through your options. |
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