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Mortgage Market Update
My Mortgage Company
Brett Stratton
Friday, November 6, 2026
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What's your home equity worth right now? |
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A lot happens between the day you close on a mortgage and today. One of the most important things is often invisible—but it's working in your favor.
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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
Your equity is growing—here's why that matters
Every mortgage payment you make builds equity in your home. As you pay down your loan balance, you own more of the property outright. That growing equity can become real money if you need it—whether for a major repair, education costs, or other goals. Some borrowers tap into their equity through a refinance or a home equity line of credit. Others simply enjoy the peace of mind that comes with owning more of their home each month. The key is knowing you have options. If you'd like to understand what your current equity position looks like and what you might be able to do with it, I'm here to walk through the numbers with you. Let's talk about what your equity means for your financial picture.
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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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