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Mortgage Market Update
My Mortgage Company
Tyson Wynia — Tyson Wynia
Friday, November 6, 2026
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Building equity: what comes next? |
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Hello from the lending desk. I talk with a lot of homeowners who don't realize how much financial power they've already built into their homes.
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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
What your home equity can do for you
As you make mortgage payments, you're building equity—the difference between what your home is worth and what you owe. That equity isn't just a number on paper; it's real financial flexibility. Depending on your situation, you may be able to tap into it through a home equity loan or line of credit to pay for major repairs, consolidate debt, or cover other needs. The sooner you understand how much equity you have and what options exist, the better you can plan. If you're curious where you stand or want to explore what might be possible, I'd be happy to walk you through it. Reach out anytime—no obligation, just honest conversation about your home and your options.
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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
Tyson Wynia — Tyson Wynia
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