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Mortgage Market Update
My Mortgage Company
Capital Mortgage Source - Salem
Friday, November 6, 2026
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What happens to equity over time? |
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One of the things I love about working with homeowners is seeing how their financial picture changes. Over time, your home builds real wealth for you.
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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 & Borrowing
Your home equity could be working harder
If you've been in your home for a few years, you likely have equity built up—money that's just sitting there. Some homeowners tap into that equity when they need cash for major expenses, home improvements, or consolidating debt. It's one of the real financial advantages of homeownership that a lot of people forget about until they need it. The good news is there are a few flexible ways to access it, each with different terms and benefits. The key is understanding which option fits your situation and your budget. If you're curious whether your equity could help you right now, I'd love to walk through your options with you. Let's talk about whether tapping your home equity makes sense 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
Capital Mortgage Source - Salem
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