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Mortgage Market Update
My Mortgage Company
Old- Sheila Garcia
Friday, November 6, 2026
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You're building wealth with every payment |
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Hello! This week I want to remind you of something powerful that's already happening with your home.
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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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Equity Building
Your mortgage is working for you even when you're not thinking about it
Every payment you make builds equity in your home — that's the difference between what you owe and what your home is worth. Over time, this becomes real wealth you can tap into. Some people use it to fund home improvements, cover unexpected expenses, or even finance major life events through a home equity line or loan. The longer you stay in your home, the more equity you accumulate. It's one of the most reliable ways to build financial security, and it happens automatically as you pay your mortgage. If you're curious about how much equity you've built or what options might be available to you, I'd love to walk through it together. Reach out if you'd like to talk about your equity and what it could mean for your financial goals.
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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
Old- Sheila Garcia
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