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Mortgage Market Update
My Mortgage Company
Eric Goldstein
Friday, November 6, 2026
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The number that matters more than rate |
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Hi there—I wanted to share something I see borrowers overlook when they're making big decisions about their mortgages.
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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 & Payment
Why your payment matters more than the rate
When you're shopping for a mortgage or thinking about refinancing, it's easy to get focused on interest rates. But here's what I tell every borrower: the rate is just one piece of the puzzle. What really shapes your life is the monthly payment—the actual dollars that leave your account each month. A slightly higher rate might come with a loan term or program that keeps your payment manageable and stable. A lower rate doesn't help if the payment isn't comfortable for your budget. Before you chase the lowest number you see, let's talk about what payment actually works for you and your family over the long term. Let's find the right fit for your situation—reach out and we can walk through your options together.
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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
Eric Goldstein
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