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Mortgage Market Update
Valerie Rush
Valerie Rush
Friday, November 6, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to talk about a resource many homeowners have but don't always think about.
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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 Awareness
What your home equity can do for you
If you've been a homeowner for a while, you've probably built up equity—the difference between what your home is worth and what you still owe on the mortgage. That equity is real money, and it opens up real options. You can tap it for a home improvement project, pay off higher-interest debt, or handle an unexpected expense. The most common ways are a cash-out refinance or a home equity line of credit. Both let you borrow against what you've already paid down. The key is knowing what you have available and whether accessing it makes sense for your situation right now. If you're curious about your options, I'd be glad to walk through the numbers with you. Let's talk about whether tapping your equity makes sense 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 Valerie Rush team any time and we'll walk you through your options. |
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