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Mortgage Market Update
Kevin Lyons
Kevin N Lyons
Friday, November 6, 2026
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Why your rate matters more than you think |
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Hi there. This week I want to clear up a common question I hear from borrowers who are thinking about their next move.
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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
What happens to your payment when rates move
A lot of people ask me whether a rate change will affect their monthly mortgage payment. 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—no surprises. But if you're considering a new loan or refinancing, rate movements directly change what you'll pay each month. That's why it's worth understanding how rates translate to your actual payment, and why locking in at the right time can make a real difference to your budget. I'm here to walk you through the numbers whenever you're ready to talk. Let's sit down and talk about what your payment might look like with today's rates.
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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 Kevin Lyons team any time and we'll walk you through your options. |
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