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Mortgage Market Update
My Mortgage Company
Hargrave Home Loans
Friday, November 6, 2026
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Down payment smaller than you think? |
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One conversation can change what you thought was possible. Here's what I want you to know this week about the real landscape of buying a home.
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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
Your down payment might be smaller than you think
One of the biggest barriers to buying keeps homebuyers from even starting the conversation: the myth that you need a huge down payment. The truth is, there are loan programs built for people at every savings level. Whether you're a first-time buyer, a veteran, or buying in a rural area, there's often a path forward with less cash down than you'd expect. The real question isn't whether you can afford to buy—it's which program fits your situation. I'd love to walk you through what's actually available to you, no pressure, just information. Let's talk about what down payment makes sense for your goals.
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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
Hargrave Home Loans
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