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Mortgage Market Update
Ronnee Walton
Ronnee Walton
Friday, November 6, 2026
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How much equity do you have right now? |
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Hi there,
Today I want to talk about something a lot of homeowners overlook: the equity sitting in their home.
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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
You might have more home equity than you realize
If you've owned your home for a few years and made regular payments, you're building wealth whether you think about it or not. Every mortgage payment chips away at what you owe, and if your home's value has held steady or risen, that gap between what your home is worth and what you still owe is real money in your pocket. Some homeowners sit on this equity without realizing it could be put to work—whether that's through a refinance, a home equity line, or simply knowing your financial position better. The first step is understanding what you actually have. If you've been meaning to get a clear picture of your equity, now's a good time to find out. Reach out and we can walk through your home's equity together.
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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 Ronnee Walton team any time and we'll walk you through your options. |
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