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Mortgage Market Update
Team Dayton
Team Dayton
Friday, November 6, 2026
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Have you checked your home equity lately? |
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Hey there. This week I want to circle back to a topic that affects a lot of homeowners but doesn't always get the attention it deserves.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey
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 built more equity than you realize
If you've owned your home for a few years, there's a good chance your property is worth more than when you bought it. That growing equity—the difference between what your home is worth and what you still owe—can open doors you didn't have before. Some borrowers tap into it for home repairs, education, or major life expenses. Others use it to refinance into better loan terms. The first step is simply understanding what you have. We can help you figure that out with no pressure or obligation. If you'd like to know where you stand, I'm here to walk you through it. Let's talk about your home's current value and what options might make sense for your situation.
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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 Team Dayton team any time and we'll walk you through your options. |
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(253) 532-5626
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