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Mortgage Market Update
My Mortgage Company
Georgia Kelley
Friday, November 6, 2026
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Equity in your home—here's what it means |
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One of the best parts of homeownership is building equity over time. This week, I want to explain what that means for you and the options it might unlock.
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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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Home Equity
What your home's value means for your options
If you've owned your home for a while, you might have built up equity—the difference between what your home is worth and what you still owe on your mortgage. That equity can open doors. Some people use it to fund home improvements, pay off other debts, or handle unexpected expenses. There are a few ways to tap into it, each with different terms and trade-offs. The key is understanding which approach makes sense for your situation. If you're curious whether equity could work for you, I'd be happy to walk through your options without any pressure or obligation. Let's talk about whether tapping your equity makes sense for you 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 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
Georgia Kelley
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