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Mortgage Market Update
KC McKeown
KC McKeown
Friday, November 6, 2026
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Refinancing could help—or it might not |
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Hi there. I get asked about refinancing a lot, and I want to give you the straight story on when it's actually worth doing.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey
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 refinancing makes sense (and when it doesn't)
Refinancing isn't right for everyone, and it's not something you should do just because rates have moved. The real question is whether the benefits—a lower monthly payment, a shorter loan term, or access to your equity—outweigh the time and costs involved in the process. Sometimes staying put with your current loan is the smarter choice, even if rates look attractive. That's why I always recommend we run the real numbers for your specific situation before you decide. There's no one-size-fits-all answer, but there are clear ways to figure out what works for you. Let me help you sort through whether refinancing makes sense for your home and your goals.
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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 KC McKeown team any time and we'll walk you through your options. |
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