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Mortgage Market Update
My Mortgage Company
Bryan Stahl
Friday, November 6, 2026
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When rates change, your budget does too |
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Rates are always moving, and that affects more than just your monthly payment. Here's what you should know.
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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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Affordability
What happens to your budget when rates shift
Rate changes ripple through your finances in ways that aren't always obvious. When rates move, your monthly payment adjusts if you have an adjustable loan, or you might consider refinancing a fixed rate to capture better terms. Either way, even a small rate change affects how much house you can afford, how quickly you build equity, and what room you have in your monthly budget. Understanding this connection helps you make smarter decisions about when to buy, refinance, or hold steady. If you're thinking about any of these moves, I'm happy to walk through how the numbers would look for your situation. Reach out and let's talk through what rate movement means for your specific loan.
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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
Bryan Stahl
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