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Mortgage Market Update
My Mortgage Company
Ryan Winter
Friday, November 6, 2026
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Picking the right type of mortgage |
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Hi there. This week I want to walk you through something that doesn't get talked about enough: not all mortgages are built the same, and that matters.
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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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Loan Programs
Not all mortgages work the same way
When you're shopping for a mortgage or thinking about refinancing, you have real options—and they work differently. Some loans let you lock in a rate for the full life of the loan. Others start lower but adjust over time. Some require a down payment; others don't. Some programs are built specifically for first-time buyers or for people with less-than-perfect credit. The right choice depends on your timeline, your comfort with payment changes, and what makes sense for your life right now. It's worth understanding what's actually available to you instead of assuming there's only one path forward. Let's talk about which loan program might be the best fit 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
Ryan Winter
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