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Mortgage Market Update
Deuane Woodard
Deuane Woodard
Friday, November 6, 2026
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What's your home equity worth to you? |
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Hi there—this week I want to talk about something a lot of homeowners overlook. If you've built up equity in your home, you have options. Here's what you should know.
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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 Strategy
What your home equity can actually do for you
If you've been paying your mortgage for a while, there's a good chance you've built up equity—real financial value sitting in your home. A lot of people don't realize what that means in practical terms. Equity can become a tool: you might tap it for a major expense, consolidate higher-interest debt, or fund a home improvement that adds value back. The key is understanding your options and what makes sense for your situation. If you're curious whether your equity could work harder for you, or you're just wondering how much you actually have, I'd be happy to walk through it. There's no obligation—just clarity. Let's talk about what your equity means for your goals.
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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 Deuane Woodard team any time and we'll walk you through your options. |
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