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Mortgage Market Update
My Mortgage Company
Joseph Cowart — Joseph Cowart
Friday, November 6, 2026
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Your home is building wealth for you |
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Every payment you make strengthens your financial position. Here's what you should know about the equity you're building.
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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
Your home is working for you—even when you're not
Every mortgage payment you make builds equity in your home. It's one of the most powerful wealth-building tools available, and it happens automatically. Over time, as you pay down your loan and your home's value changes, that equity grows—giving you options down the road. Some people tap into their home equity to fund major repairs, education, or other goals. Others let it accumulate as a long-term financial cushion. The key is understanding what you have and what's possible. I'd be happy to walk you through where you stand and discuss whether your current loan is working as hard for you as it should be. Let's talk about your equity and what it could mean for your financial picture.
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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
Joseph Cowart — Joseph Cowart
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