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Mortgage Market Update
My Mortgage Company
Mamta Khachane
Friday, November 6, 2026
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When rates move, does your payment change? |
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Hi there. I wanted to touch on something I hear about a lot: how interest rates and monthly payments actually connect.
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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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Rate Environment
What happens to your payment when rates move
A lot of people ask me: if rates go up or down, does my payment change? The answer depends on what kind of loan you have. If you're locked into a fixed-rate mortgage, your payment stays the same for the life of the loan—that's the whole point of "fixed." But if you're shopping for a mortgage right now, or if you have an adjustable-rate loan, rate movement absolutely affects what you'll owe each month. Understanding this difference helps you make smarter choices about which loan program fits your situation. I'm happy to walk through how rates and payments connect for your specific scenario. Let's talk about what rate movement means for your finances.
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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
Mamta Khachane
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