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Mortgage Market Update
Dan Crawley
Dan Crawley
Friday, November 6, 2026
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How much equity have you built? |
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Hi there—this week I want to remind you of something many homeowners forget: your house isn't just a place to live, it's an asset that's growing.
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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—that's the difference between what your home is worth and what you owe on it. Over time, this becomes real wealth. As you pay down your loan balance, you own more of your home outright. Some borrowers are surprised to learn they can tap into that equity later through a refinance or a home equity line of credit if they need cash for home repairs, education, or other goals. The key is understanding where you stand right now. If you haven't checked your home's value in a while or want to know how much equity you've built, I'd be happy to give you a clear picture of your situation. Let's talk about your equity and what options might be available to 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 Dan Crawley team any time and we'll walk you through your options. |
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