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Mortgage Market Update
Maggie Wells
Maggie Wells
Friday, November 6, 2026
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What's your home equity worth? |
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Hi there. This week I'm looking at one of the best long-term benefits of homeownership that often goes overlooked.
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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 equity is growing—here's what to do with it
Every mortgage payment you make builds equity in your home. It's one of the most powerful wealth-building tools available to everyday homeowners, and a lot of people don't realize how much they've accumulated over time. Whether you've owned your home for a few years or much longer, that equity can work for you in several ways: you might refinance to access it for major expenses, tap it for a home improvement project, or simply let it keep growing as your home appreciates and your loan balance shrinks. The key is understanding what you have and what options make sense for your situation. I'd love to help you figure out where you stand and what your equity could mean for your financial goals. Let's talk about your home equity and the possibilities it opens up.
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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 Maggie Wells team any time and we'll walk you through your options. |
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