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Mortgage Market Update
Ronnee Walton
Ronnee Walton
Friday, November 6, 2026
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Have you checked your home equity lately? |
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Hi there—I wanted to touch base with something a lot of homeowners overlook. If you've been making payments for a while, you likely have more financial options than you think.
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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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Home Equity
Your home is building wealth—here's how to use it
One of the best parts of homeownership is that every mortgage payment chips away at what you owe and builds equity in your home. Over time, that equity can become a real financial tool. If you've owned your home for a few years, you may have more built up than you realize. Some borrowers tap into that equity for home improvements, debt consolidation, or other major expenses—either through a cash-out refinance or a home equity line of credit. The key is understanding what you have available and whether accessing it makes sense for your situation right now. Not every homeowner needs to use their equity, but knowing it's there and how it works is empowering. Let me help you figure out what equity you've built and whether a strategy makes sense for you.
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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 Ronnee Walton team any time and we'll walk you through your options. |
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