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Mortgage Market Update
My Mortgage Company
Paul Isaacson
Friday, November 6, 2026
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What moving rates mean for your mortgage |
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Rates are always shifting in small ways, and I want to make sure you understand what that means for you.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
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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Rate Environment
What happens to your payment when rates shift
Rate changes affect different borrowers in different ways, and it's worth understanding how. If you have a fixed-rate mortgage, your payment stays the same—rate moves don't touch it. But if you're thinking about refinancing or buying, a rate move changes what you'd qualify for and what your new payment would be. Even small rate changes can shift your options. The reverse is true too: if rates drop, refinancing might make sense for you again, or you might have more borrowing power than before. The point is that rates are always moving, and it's smart to check in periodically to see if your loan still works for your situation. If you'd like to talk through how current rates affect your specific scenario, I'm here to help.
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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
Paul Isaacson
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