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Mortgage Market Update
Jonathan Lee
Jonathan Lee
Friday, November 6, 2026
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Your home equity might unlock something |
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I work with homeowners who don't always realize how much financial flexibility their home can provide. This week I want to walk you through 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 & Access
You might have more borrowing power than you realize
If you've owned your home for a while, you're likely building equity with each payment. That equity can become a real financial tool—whether you need to fund a major expense, consolidate debt, or make a home improvement. The key is understanding how much you actually have access to and what your options are. A home equity line of credit, a cash-out refinance, or a second mortgage each work differently depending on your goals and timeline. The best move depends entirely on your situation, which is why it's worth having a real conversation about what's possible for you. Let's talk about whether tapping your equity makes sense for what you're planning.
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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 Jonathan Lee team any time and we'll walk you through your options. |
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