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Mortgage Market Update
Thomas Harris
Thomas Harris
Friday, November 6, 2026
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What you can do with your home's equity |
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Hi there. I want to share something I hear about a lot this time of year—people realizing they have more financial flexibility than they thought.
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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 & Cash Out
What your home equity can actually do for you
If you've owned your home for a few years, you've probably built some equity—the difference between what your home is worth and what you still owe. A lot of people don't realize how useful that equity can be. Whether you're thinking about a kitchen remodel, paying off debt, or funding something important, a cash-out refinance or home equity line of credit might make sense. The key is understanding what's available to you and whether the numbers work for your situation. I can walk you through how much equity you might have access to and what your real options look like—no obligation, just honest answers. Let me know if you'd like to talk through what your equity could do for you.
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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 Thomas Harris team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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Thomas Harris
Thomas Harris
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