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Mortgage Market Update
Rad Mortgage
Rad Mortgage - Personal Account
Friday, November 6, 2026
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How rate changes reshape your monthly payment |
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A Note From Rad Mortgage
This week we were able to help a family move into their first home and got them cleared to close in under 10 days! We are grateful for any referrals and would love to provide this experience for any of your family and friends!
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Hi there. This week I want to walk you through something that confuses a lot of homeowners: the real connection between rates and what you actually pay each month.
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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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Mortgage Basics
What happens to your payment when rates change
When mortgage rates move, it affects how much of your monthly payment goes toward principal versus interest. A higher rate means more of each payment covers interest in the early years, so your equity builds more slowly at first. A lower rate does the opposite—you build equity faster from day one. This is why timing matters, but it's also why the rate you lock in today isn't the whole story. What matters most is finding a loan that fits your life and budget for the long haul. Whether rates go up or down from here, understanding how they shape your payment can help you make a smarter decision about 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 Rad Mortgage team any time and we'll walk you through your options. |
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4802720845 | radcliffemortgageteam.com
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