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Mortgage Market Update
My Mortgage Company
Kelly Cutter
Friday, November 6, 2026
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What your mortgage payment actually depends on |
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Most borrowers obsess over interest rates, but there's something more important to your wallet: the actual monthly payment you're writing out.
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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
Your payment matters more than the rate
When rates move, everyone focuses on the number itself—but here's what actually affects your daily life: your monthly payment. Two borrowers at different rates might have nearly identical payments depending on their loan term, down payment, and loan type. That's why I always tell people to look at the full picture instead of chasing the lowest rate you've ever seen. What matters is finding a loan that fits your budget and your timeline. If you're curious whether your current situation is working for you, or if there's a smarter way to structure your loan, let's talk through your numbers together. Reach out and we can run through what your payment might look like under different scenarios.
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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
Kelly Cutter
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