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Mortgage Market Update
My Mortgage Company
Joseph Cowart — Joseph Cowart
Friday, November 6, 2026
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How much equity do you actually have? |
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Hello,
When you make a mortgage payment, something powerful happens behind the scenes.
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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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Equity Building
Your home is working harder than you think
Every mortgage payment you make builds equity — you're paying down the loan balance and building wealth in your home. That equity can become a valuable tool down the road, whether you need cash for home improvements, education, or other goals. The longer you stay in your home and the more you pay toward principal, the more equity you accumulate. Understanding how much equity you have right now can help you make smarter decisions about your finances and your future. If you're curious about where you stand, I'd be happy to walk you through your loan and show you how your payments are building value over time. Let's talk about the equity you've built so far.
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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
Joseph Cowart — Joseph Cowart
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