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Mortgage Market Update
My Mortgage Company
Kayleigh Williamson - For Deletion
Friday, November 6, 2026
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Your mortgage type matters more than you think |
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Hi there. This week I want to walk you through one of the most overlooked parts of getting a mortgage—and why it deserves your attention.
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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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Loan Programs
Not all mortgages work the same way
One of the biggest decisions you'll make isn't about the rate—it's about which type of loan fits your situation. A fixed-rate mortgage keeps your payment steady for the life of the loan, which makes budgeting straightforward. An adjustable-rate mortgage may start lower but can change over time. Government-backed loans like FHA and VA have different rules than conventional mortgages. Each one has real tradeoffs depending on how long you plan to stay in your home, your income stability, and what you're comfortable with. The right choice depends on you, not on what worked for someone else. Let's talk through which program makes the most sense for your situation.
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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
Kayleigh Williamson - For Deletion
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