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Mortgage Market Update
Michael Hutchinson
U Financial Services
Friday, November 6, 2026
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What is your home actually worth to you? |
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One of the best parts of homeownership is building wealth over time. I want to make sure you know how to use it.
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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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Home Equity
You might have more buying power than you think
If you've owned your home for a few years, you've likely built equity—the difference between what your home is worth and what you owe on it. That equity can be a powerful financial tool. Some borrowers tap into it through a cash-out refinance or a home equity line of credit to fund renovations, consolidate debt, or handle a major expense. Others use it as a down payment toward a second property or investment. The key is understanding what you have and whether accessing it makes sense for your goals right now. If you're curious about your options, I'd be happy to walk through what your equity position looks like and what doors it might open for you. Let's talk about your equity and what you might do with it.
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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 Michael Hutchinson team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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Michael Hutchinson
U Financial Services
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