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Mortgage Market Update
David Frederick
David Frederick
Thursday, November 5, 2026
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Have you checked your home equity lately? |
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Hello, and thanks for being here. This week we're talking about something that builds whether you think about it or not—and why it matters to your financial picture.
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National Mortgage Rates · November 3, 2026
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Conventional 30-Year
7.17%
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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 quietly working for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. It's one of the most powerful wealth-building tools available, and it happens automatically as you pay down your loan. The earlier you start, the more you benefit. Some borrowers forget about this steady progress until they need it, but understanding your equity position now can open doors later: refinancing options, home improvements, or even helping with a major life expense. If you're not sure how much equity you've built, I'd love to pull those numbers for you. It's a conversation worth having. Let me help you see where you stand with your home's equity.
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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 David Frederick team any time and we'll walk you through your options. |
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