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Mortgage Market Update
My Mortgage Company
Amy Blauser
Friday, November 6, 2026
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How much equity have you built? |
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I talk with homeowners who don't realize just how much they've paid toward ownership. Here's what's actually happening with your monthly payment.
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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
What your monthly payment is actually doing
Every mortgage payment you make does two things: it covers interest to your lender, and it builds equity in your home. Early on, more of your payment goes toward interest. But as time passes, a larger share goes straight into your own pocket as principal. Understanding this split matters because it affects your net worth, your refinancing options down the road, and how much of your money is working for you. If you've been in your home for a while, you might be surprised how much equity you've already accumulated. That's why it's worth checking in periodically—knowing where you stand opens up possibilities you may not have considered. Let's take a look at your loan details and see where your equity stands.
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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
Amy Blauser
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