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Mortgage Market Update
Alan Thain
Alan Thain
Friday, November 6, 2026
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Rate shifts—and why you should notice |
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Hi there. Mortgage rates don't stay put for long, and when they move, it's worth taking a fresh look at your options.
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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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Rate Movement
When rates drop, your options change
Interest rates move all the time, and even a small shift can open up new possibilities for your mortgage. If rates have come down since you locked in your loan, you might suddenly qualify for a refinance that wasn't worth it before. If rates have climbed, you may want to lock in sooner rather than later if you're in the market. The point is that rate movement isn't just a number on a screen—it's a signal to check in on your situation and see what's actually available to you right now. Your financial picture is unique, so the move that makes sense for someone else might not make sense for you. That's why I'd rather have you reach out with questions than wonder in silence. Let me know if you'd like to review where rates stand and what that means for your next move.
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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 Alan Thain team any time and we'll walk you through your options. |
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