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Mortgage Market Update
My Mortgage Company
Jennifer Bedford — Jennifer Bedford
Friday, November 6, 2026
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How much equity have you built? |
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Hi there—I've been thinking a lot lately about how many homeowners don't realize the power they already have in their homes. Let me explain.
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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 Talk
Your home builds wealth while you sleep
Every mortgage payment you make does two things: it covers interest and fees, but it also chips away at what you owe. That second part is equity—real ownership you're building month after month. The longer you stay in your home, the more of each payment goes toward equity instead of interest. This is one of the quietest wealth builders available to homeowners, and it's already working for you if you have a mortgage. If you've owned your home for a few years, you may have accumulated enough equity to tap into it for major expenses, home improvements, or other financial goals. Want to know how much equity you're sitting on? I can help you find out. Reach out and we can talk about what your 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
Jennifer Bedford — Jennifer Bedford
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