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Mortgage Market Update
My Mortgage Company
Cristi Hughes
Friday, November 6, 2026
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When rates move, here's what changes |
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Interest rates are always moving. Here's a clear look at what that means for your wallet.
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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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Payment Planning
What happens to your monthly payment when rates move
Interest rates don't stay still, and when they shift, it affects what you'll pay each month. If you're considering a mortgage or thinking about refinancing, it's worth understanding how rate changes ripple through your budget. A higher rate means a higher monthly payment on the same loan amount; a lower rate does the opposite. This is why timing and your personal financial picture matter so much. If you're locked into a fixed rate, your payment stays the same for the life of the loan—which is its own kind of security. The key is knowing what you can actually afford and making sure any option you're considering truly works for your situation. Let's talk about what rate environment makes sense for you right now.
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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
Cristi Hughes
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