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Mortgage Market Update
My Mortgage Company
David Gentile
Friday, November 6, 2026
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What type of mortgage are you actually in? |
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Hi there,
I'm sharing some insights on mortgage basics that matter to your wallet and your peace of mind.
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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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Loan Programs
Not all mortgages are built the same
When you're shopping for a loan, it's easy to think all mortgages work the same way. They don't. Different loan programs are designed for different situations—whether you're a first-time buyer, putting down a smaller amount, buying a investment property, or refinancing an existing loan. Each program has its own rules about down payments, credit requirements, and how rates are set. Understanding which program fits your actual situation (not just the one you've heard about) can make a real difference in what you qualify for and what you'll pay. I'd love to walk you through what's available for your specific circumstances. Let's talk about which loan program makes sense for you.
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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 Gentile
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