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Mortgage Market Update
Todd Libby
Todd Libby
Friday, November 6, 2026
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Does refinancing make sense for you right now? |
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One of the most common questions I get is whether someone should refinance their mortgage. The answer usually depends on a few personal details—so let's break it down.
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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 Readiness
When does refinancing actually make sense?
Refinancing isn't a one-size-fits-all move—it depends on your timeline, how long you plan to stay in your home, and what you're trying to accomplish. Some people refinance to lower their payment or shorten their loan term. Others tap equity for a major expense or consolidate debt. The catch is that refinancing has costs, so it only makes sense if the benefit outweighs what you'll pay upfront. That's why running the actual numbers on your specific situation matters more than chasing rates alone. I'd be happy to walk through whether refinancing could work for you and what the real outcome would look like. If you've wondered whether refinancing is worth it, let's talk through your numbers.
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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 Todd Libby team any time and we'll walk you through your options. |
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