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Mortgage Market Update
Dustin Munu
Dustin Munu
Friday, November 6, 2026
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What today's rates mean for your budget |
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One of the questions I hear most is how rates affect the monthly payment — but there's another side to that story that's just as important.
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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 Check
How rate changes affect what you can afford
When mortgage rates move, your monthly payment changes — but so does your buying power. A higher rate means you qualify for a smaller loan amount at the same monthly budget. The opposite is true when rates drop. If you're planning to buy soon or thinking about your next move, it's worth understanding how even small rate shifts reshape what you can actually afford. This is one of the biggest factors that gets overlooked, and it matters whether you're a first-time buyer stretching to get into a home or a current owner thinking about upgrading. The math is straightforward once you see it, and it can help you make smarter decisions about timing and your price range. If you'd like to talk through how today's rates affect your situation, I'm here to walk you through the numbers.
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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 Dustin Munu team any time and we'll walk you through your options. |
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