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Mortgage Market Update
Malcolm Toussaint
Malcolm Toussaint
Friday, November 6, 2026
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What can you do with your home equity? |
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When you own your home, good things happen over time. One of them is building equity—and that opens up real opportunities.
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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 & Access
What your home equity can do for you
If you've been in your home for a while, you likely have equity built up—the difference between what your home is worth and what you owe on it. That equity can be a powerful financial tool. Some borrowers tap into it through a cash-out refinance to fund home improvements, pay down other debt, or handle a major expense. Others use a home equity line of credit for flexibility. The key is understanding your options and whether tapping equity makes sense for your situation right now. Every home and every financial picture is different, so it's worth a conversation to see what might work for you. If you'd like to explore whether accessing your equity is a smart move, I'm here to walk through the possibilities.
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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 Malcolm Toussaint team any time and we'll walk you through your options. |
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