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Mortgage Market Update
My Mortgage Company
Scott Rinehart
Friday, November 6, 2026
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When life changes, your mortgage can too |
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Hi there. Life rarely stays exactly as we planned it, and neither does our ability to carry a mortgage payment. Here's what you should know.
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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
When your budget shifts, your loan might too
Life changes fast. A job transition, a growing family, unexpected expenses—any of these can shift what you can actually afford in a mortgage payment. The good news is that your options don't disappear when circumstances change. Depending on where you are in your loan, you might refinance to a different term, explore a loan program that fits your new situation better, or simply take stock of where you stand. The key is not waiting until you feel stuck. If your financial picture has changed since you closed, or if it's shifting now, there's real value in a conversation about what makes sense for you today—not what made sense eighteen months ago. Let's talk about whether a loan adjustment or refinance could work for your situation.
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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
Scott Rinehart
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