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Mortgage Market Update
My Mortgage Company
Johnny McCollum
Friday, November 6, 2026
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When your payment changes (and what to do) |
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Adjustable rates and loan adjustments can feel like moving targets. Let me break down how they work and why a conversation now can save you stress later.
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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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Payment Planning
When your payment changes, here's what to expect
If you have an adjustable-rate loan or a rate that's set to adjust soon, understanding what happens next is worth your time. When rates move, your monthly payment can shift along with them—sometimes by quite a bit. The key is knowing ahead of time what to budget for, so there are no surprises. I often talk with borrowers who wish they'd had a clearer picture of their payment before the adjustment took effect. We can walk through your loan terms, show you what your payment might look like under different rate scenarios, and talk through your options—whether that's refinancing into something more predictable or simply preparing for the change. Either way, you'll have confidence in your numbers. Let's review your loan structure and talk through what's coming next.
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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
Johnny McCollum
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