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Mortgage Market Update
My Mortgage Company
Annika Harris
Friday, November 6, 2026
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Payment shock: why now is the time to plan |
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Hi there. One of the best things you can do before rates or circumstances shift is to know exactly what you're looking at month to month.
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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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Affordability
When your payment grows but your income doesn't
If you're carrying an adjustable-rate mortgage or you're thinking about taking one on, it's worth understanding how payment changes work in your real life. When rates move up, your monthly payment can too—sometimes by more than you'd expect. That's why knowing what your payment could be at different rate levels helps you plan ahead and avoid surprises down the road. Whether you're shopping for a new loan or already have one, it's smart to run the numbers now while you have time to think clearly about what fits your budget. Let's talk through your loan options and what the real numbers might look like 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
Annika Harris
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