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Mortgage Market Update
My Mortgage Company
Anthony Alzate
Friday, November 6, 2026
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Understanding the equity in your home |
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One of the best parts of owning a home is building something real over time. That something has a name, and it's worth understanding.
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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 & Access
Home equity: what it is and why it matters
As you pay your mortgage and your home's value changes, you build equity—the difference between what your home is worth and what you still owe. That equity can become a tool. Some people tap it to pay off debt, fund home repairs, or cover big expenses. Others let it sit and grow as part of their net worth. The key is understanding what you have available and what makes sense for your situation. If you're curious whether you might have equity to work with, or you're wondering whether tapping it now is the right move, I'd love to walk through the numbers with you. Let's talk about your home's equity and what it could mean for your financial 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
Anthony Alzate
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