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Mortgage Market Update
Scott McNeilly
Scott McNeilly
Friday, November 6, 2026
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You're building wealth every month |
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Hi there. I hope your week is off to a good start. Today I want to share something that often gets overlooked: the real power of homeownership.
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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 Building
Your home is working harder than you think
Every mortgage payment you make does two things: it covers interest to your lender, and it builds equity in your home. Over time, that equity grows—and it's yours to keep. It's one of the most powerful wealth-building tools available to everyday homeowners, and most people don't think about it until they need it. Whether you're planning to stay put or thinking ahead to life changes, understanding your equity matters. It opens doors: you may be able to borrow against it, move it to a new property, or simply watch your net worth grow. I'd love to walk you through where you stand and what options might make sense for your situation. Let's talk about what your equity means for your future.
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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 Scott McNeilly team any time and we'll walk you through your options. |
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