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Mortgage Market Update
My Mortgage Company
Kimberly Silverman
Friday, November 6, 2026
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What your monthly payment actually builds |
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A lot of homeowners don't realize that owning a home is one of the smartest wealth-building moves available. I want to show you exactly how.
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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
Why your mortgage is an investment in yourself
Every payment you make builds equity—that's the portion of your home's value you actually own. Over time, as you pay down your loan balance, your stake in the home grows, whether the market moves or not. This matters because equity can become a resource later: it's what lets you refinance into better terms, tap funds for major expenses, or move without starting from scratch. The sooner you understand how your payments work toward ownership, the more intentional you can be about your financial future. I'd love to walk you through how your specific situation is building equity. Let's talk about your equity position and what it means for your next move.
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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
Kimberly Silverman
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