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Mortgage Market Update
Ivan Quezada
Ivan Quezada
Friday, November 6, 2026
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Rate vs. payment—which one matters to you |
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Hi there,
This week I want to share something I see borrowers overlook all the time.
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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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Smart Money
Why your payment matters more than the rate alone
When rates move, the conversation often stops at the number itself. But here's what really matters: how that rate translates to your monthly payment and what you can actually afford. Two borrowers might see the same rate and face very different situations depending on their loan term, down payment, and other factors. That's why I always encourage people to think about the full picture—not just chasing the lowest rate, but finding the loan that fits your budget and your timeline. If you're curious about what your actual payment might look like under different scenarios, I'm happy to walk through it with you. Let's talk through what makes sense for your situation.
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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 Ivan Quezada team any time and we'll walk you through your options. |
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