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Mortgage Market Update
My Mortgage Company
Daryle Evans - For Deletion
Friday, November 6, 2026
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ARM vs. fixed rate: which is right for you? |
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Mortgage loans come in different flavors, and not every option is best for every person. This week I want to break down one choice that often comes up in our conversations.
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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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Adjustable Rates
Understanding ARM loans and when they make sense
An adjustable-rate mortgage (ARM) starts with a lower initial rate that later adjusts based on market conditions. For some borrowers, this can mean lower payments early on—but it's important to understand what happens when that rate adjusts. ARMs typically work well if you're planning to sell or refinance before the adjustment period kicks in, or if you're comfortable with potential payment changes down the road. The key is knowing your specific loan terms and having a realistic plan. I'm happy to walk you through whether an ARM could fit your situation or if a fixed rate makes more sense for your goals. Let's talk about which loan structure fits your timeline and comfort level.
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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
Daryle Evans - For Deletion
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