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Mortgage Market Update
My Mortgage Company
Stephanie Carman
Friday, November 6, 2026
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Why mortgage rates matter right now |
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Interest rates are one of those things that affect your loan more than almost anything else. Let me break down what's really happening and why you should care.
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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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Rate Movement
What happens to your payment when rates shift
When interest rates move—even a little—the math on your monthly payment changes fast. If you're shopping for a home, a rate increase means your buying power shifts. If you're already a homeowner, you might be wondering whether refinancing makes sense in the current environment. The key is understanding that your rate and your payment are linked: rates go up, payments go up; rates come down, and refinancing might open a door. That's why it's worth checking in on where rates are sitting and what your options look like. Every borrower's situation is different, and timing matters. Let's talk about what today's rates mean for your specific loan.
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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
Stephanie Carman
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