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Mortgage Market Update
Chris George
Chris George
Friday, November 6, 2026
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What Congress could do about mortgage rates |
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Hi there. This week we're looking at what's really moving the needle on your mortgage costs, a tax change that could help some Florida homeowners, and a regulatory shift that affects how lenders operate. Here's what matters to your wallet.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
6.68% 30-day Range: 6.68%–6.90%
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Conventional 15-Year
6.20% 30-day Range: 6.09%–6.43%
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FHA 30-Year
6.27% 30-day Range: 6.27%–6.58%
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VA 30-Year
6.13% 30-day Range: 6.13%–6.50%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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
Which loan program fits your situation?
Not all mortgages are created equal, and the right program for your neighbor might not be right for you. Some borrowers benefit from fixed rates that lock in predictability. Others qualify for programs with lower upfront costs or more flexible credit requirements. First-time buyers often have access to programs designed specifically for them. The key is understanding what's available and how each option affects your monthly payment, total interest, and long-term financial picture. I'd be happy to walk you through the programs you actually qualify for and explain how they'd work with your specific 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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HousingWire
Mortgage rates are heavily influenced by the 10-year Treasury yield, which has climbed recently. There are four policy levers Congress could pull to bring that yield back down — and lower rates with it. While nothing is guaranteed, understanding what lawmakers might do helps you think through the timing of your own refinance or purchase decision.
| Key takeaway: legislative action on spending, inflation, or economic growth could eventually help bring mortgage rates down, so it's worth paying attention to what's happening in Washington. |
Read full article →
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HousingWire
Florida voters approved a housing measure that will raise the homestead exemption to $250,000 by 2028, which means lower property taxes for owner-occupants. If you own a home in Florida and live there as your primary residence, you'll need to be established by the end of 2026 to qualify for the full benefit when it takes effect.
| Key takeaway: this is real money for Florida homeowners over the next few years, but you need to make sure you meet the residency deadline to lock in the savings. |
Read full article →
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HousingWire
A Manhattan appeals court has cleared the way for New York City's new surcharge on non-primary homes valued over $5 million to stay in place through July 2028. If you own a second property in New York, this tax affects your annual bill. A separate legal challenge is still ongoing, but for now the surcharge is here.
| Key takeaway: if you own a vacation home or investment property in New York City, factor this surcharge into your holding costs. |
Read full article →
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HousingWire
The Consumer Financial Protection Bureau has shut down about 86% of its recent supervisory actions against lenders and cut its scheduled examination schedule roughly in half. This means less regulatory oversight of how lenders operate — and it's a significant shift in how closely the agency is watching the mortgage industry.
| Key takeaway: with less agency supervision, it's more important than ever to shop carefully and compare terms from multiple lenders before you lock in your rate. |
Read full article →
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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 Chris George team any time and we'll walk you through your options. |
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2701 E Insight Way, Suite 150, Chandler, AZ, 85286
NMLS# 745236 · Company NMLS# 181106
615-422-4705 | https://www.cgmtgteam.com
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