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Mortgage Market Update
My Mortgage Company
Stephanie Pena
Friday, November 6, 2026
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What's your credit score costing you? |
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Hi there, this week I want to talk about something that shapes your mortgage more than most people realize.
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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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Smart Money
Why your credit score matters more than you realize
Your credit score isn't just a number—it's one of the biggest factors that shapes what you'll pay over the life of your loan. Even small differences in your score can affect the rates lenders offer you, which compounds into real dollars over 15 or 30 years. The good news is that building and protecting your score is something you control. Paying bills on time, keeping credit card balances low, and avoiding new credit inquiries right before you apply for a mortgage all make a measurable difference. If you're thinking about buying or refinancing soon, I'd encourage you to check your credit now—not just to see where you stand, but to have time to strengthen it if needed. Let me know if you'd like to talk through your credit situation and what that might mean for your options.
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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
Stephanie Pena
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