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Mortgage Market Update
My Mortgage Company
Ronnee Walton (For Deletion)
Friday, November 6, 2026
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Not all mortgages are created equal |
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Hi there. This week I want to cover something borrowers don't always think about until it's too late—the loan type itself.
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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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Loan Programs
Loan types matter more than you think
Not all mortgages work the same way. Whether you're buying, refinancing, or exploring options, the type of loan you choose shapes your rate, your payment, and how much flexibility you have down the road. Some programs reward steady income and solid credit. Others are built for self-employed borrowers or first-time buyers. And some let you put down less upfront, while others reward a larger down payment. The right fit depends on your situation—not just what sounds cheapest today. I'd be happy to walk you through what's actually available to you and why one program might serve you better than another. Let's talk about which loan type makes sense for your next move.
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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
Ronnee Walton (For Deletion)
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