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Mortgage Market Update
My Mortgage Company
David Schindel
Friday, November 6, 2026
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What's your home worth right now? |
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One of the least-talked-about benefits of homeownership is building wealth over time. Let me explain what that means and how it might help you.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey
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 & Cash
Your home's value might be working for you
If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you owe. That equity can be a financial tool. Some borrowers tap it to fund home improvements, pay down other debt, or cover major expenses. Others refinance into a new loan that lets them keep cash on hand. The amount of equity you have, how much you can access, and whether it makes sense depends on your situation and today's rates. It's worth understanding what's actually available to you. If you're curious whether your equity could help, let's talk through your options.
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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
David Schindel
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