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Mortgage Market Update
My Mortgage Company
Brett Stratton
Friday, November 6, 2026
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Your budget and interest rates are connected |
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Hi there. I want to walk you through something borrowers often overlook: how rate changes reshape what you can actually afford.
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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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Affordability Check
How rate changes affect what you can afford
When interest rates move, your monthly payment moves with them—but here's what matters more: your actual purchasing power. A rate increase can mean the same loan amount now costs more each month, which affects how much home you can afford within your budget. The flip side is true too: when rates fall, that same budget stretches further. Understanding this relationship helps you make smarter decisions whether you're buying, refinancing, or just wondering if now is a good time to move. I'm happy to run the numbers with you and show what your specific situation looks like. Let me show you how today's rates affect your affordability—reach out anytime.
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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
Brett Stratton
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