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Mortgage Market Update
My Mortgage Company
Samuel P. Royer
Friday, November 6, 2026
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Is your loan type working for you? |
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Hi there. This week I want to focus on something that doesn't get talked about enough: the actual type of loan you have 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 Program Fit
The right loan type matters more than you think
Not all mortgages work the same way, and picking the wrong one can cost you years or thousands in the long run. Some loans offer flexibility if your income or plans might shift. Others lock in stability from day one. Some let you build equity faster. The best choice depends on your situation—not on what worked for your neighbor or what sounds familiar. If you're thinking about buying soon, or if you're already a homeowner wondering whether your current loan is still the right fit, it's worth a conversation. I can walk you through what's available and what actually makes sense for where you are right now. Let's talk about which loan program fits your life best.
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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
Samuel P. Royer
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