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Mortgage Market Update
My Mortgage Company
David Carpenter - DELETE
Friday, November 6, 2026
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Picking the right mortgage program |
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I work with borrowers who come in knowing they need a mortgage—but not always knowing which type is right for them. Here's what I want you to know.
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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 are created equal
When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the loan program you choose matters just as much—sometimes more. Different programs come with different flexibility, different requirements, and different long-term costs. Some work better if you're planning to stay in your home for decades. Others make sense if you might move or refinance down the road. Your down payment, credit profile, and financial goals all play a role in which program is the best fit. I'd rather help you pick the right loan for your life than just the one with the lowest rate this week. Let's talk about 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
David Carpenter - DELETE
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