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Mortgage Market Update
Justin Oliver
Justin Oliver
Friday, November 6, 2026
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What to know about the equity in your home |
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Hi there, I hope your week is off to a good start. I wanted to share something that comes up often in conversations with borrowers—and it's worth understanding even if you're not planning to act on it right now.
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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
What your home equity can do for you
If you've been in your home for a few years, you likely have equity built up—the difference between what your home is worth and what you owe. That equity isn't just a number on paper. It can be a tool. Some borrowers tap into it to fund home improvements, pay off debt, or cover a large expense. Others leave it alone and that's fine too. The point is understanding what options exist and whether any of them fit your situation. If you're curious whether your equity could work for you, I'd be happy to walk through what that might look like. Let's talk about what your home's 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 Justin Oliver team any time and we'll walk you through your options. |
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