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Mortgage Market Update
Joseph R Garner
Joseph R Garner
Friday, November 6, 2026
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You're building equity right now |
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One of the best parts of owning a home is that your monthly payment is an investment in yourself. I want to make sure you understand how that works and what it unlocks.
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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 for you every month
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. As you pay down principal, your stake in the property grows. This matters because equity is real wealth, and it can become a resource down the road if you need it. Some borrowers use home equity for major expenses, education, or even to refinance into better loan terms. The sooner you understand how much equity you're building, the better you can plan for your financial future. If you're curious about where you stand or want to explore what your equity means for your options, I'm here to walk you through it. Let's talk about your equity and what it could mean 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 Joseph R Garner team any time and we'll walk you through your options. |
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