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Mortgage Market Update
My Mortgage Company
Camille Olson
Friday, November 6, 2026
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How much equity are you building right now? |
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Hi there. This week I want to show you something many homeowners don't fully realize about their own 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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Equity Building
How much of your payment goes toward ownership?
Every mortgage payment you make is split two ways: part goes toward interest, and part reduces what you owe on the home itself. That second part is your equity—real ownership stake that grows over time. Early in a loan, more of your payment covers interest. But as you pay down the balance, the split shifts in your favor, and equity builds faster. Understanding this matters because it shows you're not just paying a landlord—you're building wealth. If you're curious where you stand right now, or wondering how a different loan type might affect your equity timeline, I'd be happy to walk through the numbers with you. Let's talk about where your money is actually going each month.
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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
Camille Olson
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