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Mortgage Market Update
My Mortgage Company
Mike McBride
Friday, November 6, 2026
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What's your home actually worth now? |
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Home values change, and so does your financial picture. Here's something worth checking in on.
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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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Home Equity
Your home might be worth more than you think
If you've owned your home for a while, you may have built up equity—the difference between what your home is worth now and what you still owe on your mortgage. That equity can be a real financial tool. Some borrowers use it to fund home improvements, pay off higher-interest debt, or cover major expenses. The way to access it usually involves a refinance, a home equity loan, or a line of credit. It's worth understanding what you have and what your options are. If you're curious whether tapping your equity makes sense for your situation, I'd be happy to walk through the numbers with you. Reach out if you'd like to explore what equity you might have and how it could work for you.
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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
Mike McBride
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