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Mortgage Market Update
Bradley Crowe
Bradley Crowe
Friday, November 6, 2026
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Your mortgage payment: what can change and why |
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Hi there. A lot of borrowers are surprised to learn that even a locked-in mortgage rate doesn't always mean a locked-in payment. Here's what you need to 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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Payment Planning
Why your mortgage payment might shift
If you have an adjustable-rate mortgage or a loan with an escrow account, changes in rates or property taxes can affect what you pay each month. Even fixed-rate borrowers should know that while the principal and interest stay the same, your total payment can move if your homeowners insurance or tax assessment changes. Understanding what drives these shifts helps you budget confidently and spot opportunities to refinance into more predictable terms if the time is right. I'm happy to walk you through your specific situation and explain what to expect. Let's review your loan and talk through any payment questions you have.
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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 Bradley Crowe team any time and we'll walk you through your options. |
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