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Mortgage Market Update
My Mortgage Company
Kristopher Matyas
Friday, November 6, 2026
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Do you know how much equity you have? |
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A lot of homeowners focus on their monthly payment and forget about the bigger picture. I want to walk you through something that often surprises people in a good way.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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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
How your mortgage payments are working for you
Every payment you make builds equity—the difference between what your home is worth and what you owe. Most borrowers don't realize how much equity they've already accumulated, especially if they've been in their home for a few years. Knowing your equity matters because it opens doors: you may qualify for a cash-out refinance, a home equity loan, or a line of credit if life throws you an unexpected expense. It's also a tangible reminder that your mortgage isn't just a bill—it's an investment in an asset you own. I'd be happy to pull together a quick equity snapshot for you so you can see exactly where you stand. Let's talk about what your equity means for your financial 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Kristopher Matyas
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