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Mortgage Market Update
Denise Marquez
Denise Marquez
Friday, November 6, 2026
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Rates keep dropping—and what it means for your wallet |
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Mortgage rates have been on a downward streak, and there's real movement happening in Congress and city halls around housing. We've pulled together the stories that actually matter to your bottom line this week.
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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 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
Rates on 30-year fixed mortgages have dropped to their lowest point in recent weeks as markets react to the election results. If you've been waiting on the sidelines or thinking about refinancing, now might be worth a serious look.
| Key takeaway: Lower rates mean lower monthly payments, so this is a good time to check where your rate stands compared to current offers. |
Read full article →
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Realtor.com
A historic wave of inherited wealth is helping first-time homebuyers skip the mortgage process entirely—with one in ten paying all cash between 2025 and 2026. If you're financing your purchase, this shift in the market is worth understanding.
| Key takeaway: Even as more cash buyers enter the market, financing a home remains the most practical path for most families, and lower rates make it more affordable. |
Read full article →
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Realtor.com
Los Angeles just elected a mayor whose campaign centered on affordability and housing supply—and she's pledging to triple homebuilding in the city. More construction can eventually mean more options and better prices for buyers.
| Key takeaway: When local leaders prioritize housing supply, it can ease affordability over time, so pay attention to what your city and state are actually doing about it. |
Read full article →
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Realtor.com
Democrats won big partly because voters care deeply about housing costs, and party leaders know they need to deliver on affordability to keep that momentum. How Congress addresses housing could shape rates and availability in coming years.
| Key takeaway: Political attention on affordability means housing policy could shift—stay informed about proposed changes that might affect your mortgage options or timeline. |
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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