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Mortgage Market Update
My Mortgage Company
Nancy Sandoval
Friday, November 6, 2026
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Rate changes hit your wallet—here's how |
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A lot of homeowners focus on the rate itself and miss the bigger picture: how it actually affects what you pay each month. Here's what you should 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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Affordability
When your rate changes, your budget might too
A lot of people don't realize how closely their monthly payment is tied to their interest rate. When rates move, even a small shift can change what you're comfortable paying each month—and that matters whether you're thinking about buying, refinancing, or just staying informed about your current loan. Understanding this relationship helps you make smarter decisions about timing and what actually makes sense for your situation. If you've been wondering whether a rate change would meaningfully affect your finances, or if now might be the right time to look at your options, I'd be happy to walk you through the numbers with you. Let's talk about what rate movements mean for your specific mortgage.
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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
Nancy Sandoval
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