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Mortgage Market Update
Daniel Bellomy
Daniel Bellomy
Friday, November 6, 2026
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What's your home actually worth to you? |
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One of the best parts of owning a home isn't the mortgage—it's what happens behind the scenes. I want to walk you through how equity works and why it matters.
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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 Building
Your home is working for you even when you're not
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this becomes real wealth. The sooner you understand how much equity you've accumulated, the more options open up. You might refinance to a shorter loan term, tap that equity for a major expense, or simply feel more secure knowing your stake in your home is growing. If you haven't checked your equity position lately, it's worth a conversation. Things change faster than you'd think, and knowing your number helps you make smarter decisions down the road. Let's pull your numbers together and talk about what your equity means 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 Daniel Bellomy team any time and we'll walk you through your options. |
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