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Mortgage Market Update
Tim Stacey
Tim Stacey
Friday, November 6, 2026
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What's your home actually worth to you? |
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I get a lot of questions about rates and payments. But today I want to talk about something that matters just as much: the wealth you're building right now.
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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 quietly building wealth for you
Every mortgage payment you make does two things: it pays down your loan balance and builds equity in your home. Over time, this becomes real wealth you can tap into when you need it most. Whether rates rise or fall, whether your home value shifts, that equity stays with you. The longer you own, the faster it typically grows. If you've been in your home for a few years, you may have more equity than you realize — and options you haven't considered yet. That's worth knowing. Let's talk about what your equity means 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 Tim Stacey team any time and we'll walk you through your options. |
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