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Mortgage Market Update
Cat Barnett
Cat Barnett
Friday, November 6, 2026
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How much equity do you have now? |
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Building wealth through homeownership isn't magic—it's a steady process that starts the day you close. Let me walk you through what's actually happening with your mortgage payments.
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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 Strategy
Building equity faster than you think
Every mortgage payment you make builds equity in your home—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 most people don't realize how quickly it adds up. The sooner you start, and the more consistently you pay, the more equity you're building. If you've owned your home for a few years, you may have more equity than you realize. That equity can open doors down the road—whether you want to tap into it for a major expense, make improvements to your home, or refinance into better terms. The first step is understanding where you stand right now.
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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 Cat Barnett team any time and we'll walk you through your options. |
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(720) 300-6777 | www.LoanFIT.us
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