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Mortgage Market Update
Maureen Martin
Maureen Caroline Martin
Friday, November 6, 2026
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What happens to your money each month |
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I talk to homeowners every week who aren't sure how their mortgage actually works. Let me break down something important that often gets overlooked.
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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 Building
What your mortgage is actually doing for you
Every payment you make builds equity — that's the portion of your home's value you truly own. Over time, as you pay down your loan balance, your equity grows. This matters because equity is real wealth. It can be borrowed against for major expenses, used to upgrade your home, or accessed when life circumstances change. The sooner you understand how much equity you're building, the better you can plan for your financial future. If you'd like to know where you stand with your current mortgage, I'm happy to walk you through it. Reach out anytime if you'd like to review your equity position or explore your options.
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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 Maureen Martin team any time and we'll walk you through your options. |
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