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Mortgage Market Update
Taylor Henderson
Taylor Henderson
Friday, November 6, 2026
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Why your payment ticked up this month |
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Hi there. This week I want to talk about something that surprises a lot of homeowners: a payment increase that has nothing to do with interest rates.
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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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Mortgage Basics
Why your payment might change even if your rate doesn't
Your mortgage payment is made up of more than just interest. Taxes, insurance, and mortgage insurance (if applicable) all roll into that monthly bill—and they can shift without any change to your actual loan rate. Property taxes go up. Insurance premiums adjust. These changes are real money out of your pocket, even if the lending side stays steady. Knowing what's baked into your payment helps you budget smarter and spot surprises before they land in your inbox. If you've noticed your payment creeping up lately, it's worth understanding why. Let me walk you through your statement and explain what's driving any changes.
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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 Taylor Henderson team any time and we'll walk you through your options. |
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