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Mortgage Market Update
My Mortgage Company
Julie Jacobsen
Friday, November 6, 2026
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What's your home actually worth right now? |
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Hi there. I wanted to share something I see help a lot of homeowners: understanding the equity they've already built.
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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
The money you're already making in your home
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, this becomes real wealth. But here's what many homeowners miss: you might have equity available right now, even if you haven't paid down much of the loan yet. Home values shift, neighborhoods appreciate, and renovations add value. Knowing what you've built matters, because it opens doors. Equity can help you cover big expenses, consolidate debt, or fund improvements without starting over with a new loan. The first step is simple: let's talk about what your home is worth and what options that creates for you. Reach out if you'd like to explore what equity you may have built.
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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
Julie Jacobsen
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