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Mortgage Market Update
Jessica Higgins
Jessica Higgins
Friday, November 6, 2026
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Home equity: what you can actually do with it |
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Hi there—I wanted to touch on something that comes up a lot in conversations with homeowners: the equity sitting in your home and how it might fit into your financial plan.
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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 & Borrowing
Your home equity is more useful than you think
A lot of homeowners don't realize that as you pay down your mortgage, you're building real wealth in your home. That equity can actually work for you in different ways—whether you need cash for home repairs, debt payoff, or other goals. The options available to you depend on how much equity you've built and your overall financial picture. It's worth understanding what you have available and how each option works before you need it. I'd be happy to walk you through what makes sense for your situation. Reach out anytime to talk through how your equity could help 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 Jessica Higgins team any time and we'll walk you through your options. |
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