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Mortgage Market Update
My Mortgage Company
Seth Feinman
Friday, November 6, 2026
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How much equity are you sitting on? |
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We help people understand what's really happening with their mortgage—not just the monthly payment, but the bigger picture of building wealth through homeownership.
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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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Equity Building
Your mortgage is doing more than you think
Every payment you make builds equity in your home—that's the difference between what your house is worth and what you still owe. Over time, this grows into real wealth you can tap into if you need it. The faster you pay down your loan, the faster equity accumulates. Some borrowers are surprised to learn how much they've already built up, especially if they've been in their home for a few years. Knowing your equity position matters whether you're thinking about a future refinance, a home improvement project, or just understanding your financial picture more clearly. Let's talk about how much equity you might have and what options that opens up.
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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
Seth Feinman
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