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Mortgage Market Update
Chris George
Chris George
Friday, November 6, 2026
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What Congress could do for mortgage rates |
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This week we're looking at stories that could actually affect your wallet—from mortgage rates to property taxes to how lenders operate. Here are the four that matter most to homebuyers and owners.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
6.62% 30-day Range: 6.62%–6.96%
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Conventional 15-Year
6.20% 30-day Range: 6.09%–6.43%
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FHA 30-Year
6.27% 30-day Range: 6.27%–6.58%
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VA 30-Year
6.13% 30-day Range: 6.13%–6.50%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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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Loan Programs
Which loan program fits your situation?
Not all mortgages are created equal, and the right program for your neighbor might not be right for you. Some borrowers benefit from fixed rates that lock in predictability. Others qualify for programs with lower upfront costs or more flexible credit requirements. First-time buyers often have access to programs designed specifically for them. The key is understanding what's available and how each option affects your monthly payment, total interest, and long-term financial picture. I'd be happy to walk you through the programs you actually qualify for and explain how they'd work with your specific goals.
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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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HousingWire
There are four specific policy levers that Congress could pull to help bring down the 10-year Treasury yield, which directly influences mortgage rates. While no guarantees exist, understanding what lawmakers *could* do helps you anticipate potential rate movement in the months ahead.
| Key takeaway: Watch Washington's moves on fiscal policy—they may eventually ripple into lower mortgage rates for refinancing or new purchases. |
Read full article →
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HousingWire
Florida voters approved Amendment 3, which will raise the homestead exemption cap to $250,000 starting in 2028. If you own a primary home in Florida, this means a larger portion of your property value is protected from taxation—and you'll need to establish residency by the end of 2026 to qualify.
| Key takeaway: If you're thinking about moving to Florida or own a home there, lock in your primary residency status by year-end 2026 to benefit from the increased exemption. |
Read full article →
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HousingWire
New York City's tax surcharge on non-primary homes valued over $5 million has cleared an appeals court hurdle and will remain in effect through July 2028. This is relevant if you own multiple properties in the city or are considering investment real estate there.
| Key takeaway: If you own or plan to buy a second home in NYC over $5 million, plan for this extra tax burden in your long-term finances. |
Read full article →
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HousingWire
The Consumer Financial Protection Bureau has closed the vast majority of its supervisory actions and cut scheduled exams in half, signaling a shift toward lighter enforcement of mortgage lenders and servicers. This means fewer inspections and rules may ease, though consumer protection standards still apply.
| Key takeaway: Lighter CFPB enforcement could make lenders more aggressive in their practices, so double-check loan terms and servicer disclosures before signing. |
Read full article →
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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 Chris George team any time and we'll walk you through your options. |
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2701 E Insight Way, Suite 150, Chandler, AZ, 85286
NMLS# 745236 · Company NMLS# 181106
615-422-4705 | https://www.cgmtgteam.com
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