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Mortgage Market Update
My Mortgage Company
Jared Fuller — Jared Fuller
Friday, November 6, 2026
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Have you checked your home equity lately? |
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Hi there—I hope you're doing well. This week I want to touch on something a lot of homeowners overlook.
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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
You might have more borrowing power than you realize
If you've been in your home for a few years, you may have built up equity—the difference between what your home is worth and what you owe. That equity can be a real financial tool. Some borrowers use it to consolidate debt, fund a renovation, or cover a major expense. The way you access it matters, though. Different loan programs have different terms, costs, and timelines. Before you decide how to tap into your equity, it's worth understanding your options and what each one actually costs over time. I'm here to walk you through what makes sense for your situation. Let's talk about whether your equity could work for you right now.
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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
Jared Fuller — Jared Fuller
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