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Mortgage Market Update
Nicholas do Carmo
Barrett Financial
Friday, November 6, 2026
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Do you know how much equity you have? |
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Building equity is one of the best parts of homeownership. Here's how to make it work for you.
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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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Equity Strategy
The equity in your home is working—or it could be
If you've owned your home for a while, you've likely built equity through monthly payments and any appreciation. That equity is real value, but it only helps you if you know it's there and understand your options. Some homeowners tap it for major expenses, home improvements, or debt consolidation. Others leave it untouched. There's no single right answer—it depends on your situation, your goals, and what makes sense for your budget. The first step is a simple conversation: do you know how much equity you have, and does it make sense to use it? I'm here to walk through the numbers and help you decide. Let's talk about your home's equity and what it could mean for your financial picture.
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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 Nicholas do Carmo team any time and we'll walk you through your options. |
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