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Mortgage Market Update
Nicole Miller
Nicole Miller
Thursday, November 5, 2026
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How much equity do you have built up? |
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Markets move, life changes, and your home is quietly building your wealth. Here's what you need to know this week.
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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 working for you every month
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 to everyday homeowners, and it happens automatically. Over time, as you pay down your loan balance and your home may appreciate, that equity grows. The longer you stay in your home, the more you accumulate. Some homeowners eventually tap into that equity through refinancing or a home equity line of credit to fund improvements, consolidate debt, or handle life's big expenses. It's worth knowing what you've built up. I'd be happy to give you a quick sense of where your equity stands and what options might make sense for your situation. Let's talk about your equity and what it could mean for your future.
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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 Nicole Miller team any time and we'll walk you through your options. |
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