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Mortgage Market Update
My Mortgage Company
Lacie Anvik
Friday, November 6, 2026
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Your home is building money for you |
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Hi there—this week I want to walk you through something that quietly works in your favor every single month.
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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 balance matters less than you think
Every payment you make builds equity—the difference between what your home is worth and what you owe. But here's what many homeowners miss: equity isn't just about payoff progress. It's a financial tool. As you build it, you gain options: the ability to borrow against it for repairs or major expenses, the flexibility to refinance into better terms, or the cushion that protects you if the market shifts. The sooner you understand how much equity you're sitting on, the sooner you can make strategic decisions about your home and your finances. I'd be happy to run the numbers and show you what opportunities might be available to you. Let's talk about what your equity means for your situation.
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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
Lacie Anvik
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