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Mortgage Market Update
Dawn Dawson
Dawn Dawson
Friday, November 6, 2026
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Your fixed rate won't change—but here's what will |
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Rates have been moving, and I'm hearing a lot of questions about what that means for your wallet. Let me clear up one thing right away.
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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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Payment Reality
What happens to your mortgage when rates move
A lot of people ask me whether rising or falling rates affect their current mortgage payment. Here's the straightforward answer: if you have a fixed-rate loan, your payment stays the same for the life of the loan—that's the whole point of "fixed." But rates do affect your refinancing options, your home's value over time, and what you might qualify for if you want to borrow again. If you're shopping for a new home or thinking about pulling equity out, rate changes shift what you can afford and which loan programs make sense for your situation. It's worth understanding the full picture so you're not caught off guard. Let me walk you through how current rates might affect your next move—reach out anytime.
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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 Dawn Dawson team any time and we'll walk you through your options. |
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