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Mortgage Market Update
My Mortgage Company
Lance Monson
Friday, November 6, 2026
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Do you know what your home equity could do? |
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A lot of homeowners don't realize how much financial flexibility their home has given them. Let me explain what I mean.
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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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Home Equity
Should you tap into your home equity?
If you've owned your home for a few years, there's a good chance you've built meaningful equity — that's the difference between what your home is worth and what you owe. Some homeowners use that equity to fund home improvements, consolidate debt, or cover major expenses. It's possible to access it through a cash-out refinance or a home equity line of credit. The right choice depends on your goals, how long you plan to stay in your home, and what makes sense for your financial picture. There's no one-size-fits-all answer, which is exactly why it's worth talking through your options before you decide. If you're curious whether tapping your equity makes sense for you, let's have a conversation.
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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
Lance Monson
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