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Mortgage Market Update
My Mortgage Company
Kaleb Melville — Kaleb Melville
Friday, November 6, 2026
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Do you know how much equity you have? |
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Each month of homeownership brings you closer to real financial flexibility. Here's what you need to know.
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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 & Access
Your home's value might unlock more options
As time passes and your home builds equity, you're sitting on a potential resource. That equity can be used to refinance into better terms, cover major expenses, or consolidate debt—but only if you know it's there and understand what you qualify for. The catch: your home's actual value and the equity you've built depend on your specific situation, your market, and how much you've paid down. I recommend getting a current assessment of what you own versus what you owe. That conversation doesn't lock you into anything; it just gives you real information about what's available to you. Having options is always worth knowing about. Let's talk about your equity and what it might mean for your financial plans.
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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
Kaleb Melville — Kaleb Melville
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