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Mortgage Market Update
Mimi Boussekine
Mimi Boussekine
Friday, November 6, 2026
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How your mortgage builds wealth |
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One of the best parts of homeownership happens quietly every month. I want to walk you through how it works and what you might do with it.
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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 mortgage is working harder than you think
Every payment you make builds equity in your home—that's the difference between what your home is worth and what you owe on it. Over time, this grows into real wealth you can tap into. Some people use it to fund home improvements, cover unexpected expenses, or lower their monthly payment through a refinance. The longer you're in your home, the faster this happens. If you've been paying your mortgage for a few years, you might be surprised how much equity you've already built up. It's worth taking a look at what you have available, and then we can talk about whether it makes sense to use it. Let's sit down and review your current equity position—no obligation.
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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 Mimi Boussekine team any time and we'll walk you through your options. |
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