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Mortgage Market Update
My Mortgage Company
Adan Saldana
Friday, November 6, 2026
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Why your mortgage payment might have gone up |
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Hi there. One of the most common questions I hear from homeowners is: why did my payment change? Let me explain what's really happening.
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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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Payment Planning
When your mortgage payment goes up (and why)
Your interest rate isn't the only thing that can change your monthly payment. Property taxes, homeowners insurance, and PMI can all shift over time—sometimes significantly. If you've noticed your payment creeping up, or you're wondering what to expect down the road, it helps to understand which pieces move and which stay locked in. Knowing what's happening behind the scenes means fewer surprises and smarter planning for your budget. I'm here to walk you through what you're seeing on your statement and what it means for your household. Let me know if you'd like a closer look at your payment breakdown.
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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
Adan Saldana
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