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Mortgage Market Update
My Mortgage Company
Rafael Martinez
Friday, November 6, 2026
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Rates just moved—here's what it means |
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Hi there. Mortgage rates don't stay still for long, and when they shift, your options shift with them. Here's what you should know.
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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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Rate Movements
When rates drop, your options change
Interest rates move constantly, and even small shifts can open new doors for your mortgage. If rates have come down since you locked in your loan, you might suddenly qualify for a refinance that didn't make sense before. Or if you've been waiting on the sidelines to buy, a rate dip could move a home back into reach. The reverse is true too—when rates rise, it's a good reminder to act on plans you've been considering. The key is knowing where rates stand right now compared to your situation, so you can make a move if it makes sense. I'm here to help you understand what changed and whether it's worth exploring. Let's talk about what the current market means 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
Rafael Martinez
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