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Mortgage Market Update
My Mortgage Company
Gabrielle Theoharis
Friday, November 6, 2026
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Why affordability starts before the rate |
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When money and mortgages come up, interest rates grab all the attention. But I've learned that's often backwards.
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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 Math
Your budget matters more than rates
I talk to borrowers all the time who focus on interest rates first—and miss what actually moves the needle on affordability. Here's the thing: when rates shift, your monthly payment changes. But the real story is what you can actually afford to borrow in the first place. Your income, debt, down payment, and credit profile determine your loan amount long before we look at today's rate. That's why I always start with the fundamentals. If you're thinking about buying, refinancing, or just wondering whether a move makes sense financially, let's talk through your full picture. Small changes in how much you put down or how you structure your timeline can open up options you didn't know existed. Reach out and we'll walk through what's actually possible 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
Gabrielle Theoharis
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