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Mortgage Market Update
My Mortgage Company
Joseph A Worrell - For Deletion
Friday, November 6, 2026
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What's your home actually worth right now? |
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Hi there. This week I want to talk about something a lot of homeowners overlook: the equity sitting in your property right now.
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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 Awareness
You might have more equity than you think
If you've owned your home for a while, or if your property has appreciated, there's a good chance you've built equity—and that opens doors. Equity is simply the difference between what your home is worth and what you owe on it. You can tap into it through a refinance, a home equity line of credit, or a second mortgage if you need to fund repairs, consolidate debt, or cover a major expense. The key is understanding what you have and whether using it makes sense for your situation. I'd be happy to run a quick look at your home's value and your current loan to show you what options might be available. It's worth knowing what you're working with. Reach out if you'd like to explore what your home equity could do for you.
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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
Joseph A Worrell - For Deletion
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