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Mortgage Market Update
My Mortgage Company
Jacob Smith
Friday, November 6, 2026
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Loan programs aren't one-size-fits-all |
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Every borrower's path to homeownership looks a little different. The right mortgage program depends on your unique circumstances—not someone else's.
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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
Why your neighbor's mortgage might not work for you
Just because someone else got approved for a certain loan program doesn't mean it's the best fit for your situation. Your credit profile, down payment, income, and goals are unique—and lenders have different programs to match different needs. What works smoothly for one borrower might come with trade-offs for another. Understanding your options helps you avoid overpaying or locking into terms that don't serve you well. I'd be happy to walk you through what's actually available to you based on your specific circumstances. Let's talk about which loan program makes sense for your situation.
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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
Jacob Smith
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