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Mortgage Market Update
My Mortgage Company
Darwin Earl
Friday, November 6, 2026
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What your payment actually depends on |
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Hi there. I wanted to walk you through something I see come up a lot—and it's worth understanding whether you're buying soon or just thinking ahead.
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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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Affordability & Rates
What happens to your payment when rates shift
A lot of people ask me how rate changes actually affect them—and the answer matters whether you're shopping now or thinking about refinancing later. When rates move, your monthly payment moves with them. A higher rate means you're paying more each month to borrow the same amount; a lower rate does the opposite. The good news is you're never locked in forever. If your situation has changed—your credit improved, your income grew, or market conditions shifted—it's worth talking through your options. Sometimes a small move in rates can unlock a real difference in what you pay over time. Let's talk about what your numbers look like and what might be possible for you.
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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
Darwin Earl
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