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Mortgage Market Update
My Mortgage Company
Colin Whitermore
Friday, November 6, 2026
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Finding the right loan for your situation |
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Hi there. This week I want to talk about loan programs and why one size doesn't fit everyone.
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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
The loan type that might fit your situation best
Not all mortgages work the same way, and that's actually good news. Fixed-rate loans lock in the same payment forever—perfect if you want predictability. Adjustable-rate loans often start lower, which can help if you're planning to move or refinance down the road. Longer loan terms mean smaller monthly payments; shorter ones build equity faster and cost less overall. The right choice depends on your timeline, risk tolerance, and what you're trying to accomplish. I'd love to walk you through which programs make sense for your goals and help you compare the real tradeoffs. Let's find the loan structure that works for your life.
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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
Colin Whitermore
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