|
Mortgage Market Update
My Mortgage Company
Chad Burckhard
Friday, November 6, 2026
|
What a rate move really means for you |
|
Every week I help people sort through rate news and figure out what it means for their own finances. This week I want to walk you through how rates affect your payments, so you can think more clearly about your options.
|
|
National Mortgage Rates · November 4, 2026
|
Conventional 30-Year
7.12%
|
|
| |
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%233b5bdb%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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.
|
|
|
|
Rate Environment
What happens to your payment when rates move
A lot of people ask me whether they should wait for rates to drop before buying or refinancing. The honest answer is: nobody knows what rates will do next week or next month. But here's what I can tell you—when rates do move, even a small shift changes what your monthly payment would be. Understanding that relationship helps you make a clearer decision about timing. Whether you're shopping for a home or thinking about refinancing an existing loan, it's worth having a real conversation about where rates are today and what different scenarios might look like for your budget. That way you're deciding from facts, not guesses. Let's talk about what the current rate environment means for your situation.
|
|
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.
|
|
Tips for Homeowners
Protecting Yourself from Mortgage Scams
|
|
1.
|
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.
|
|
2.
|
Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
|
|
3.
|
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.
|
|
|
Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
|
Your Mortgage Advisor
|
|
|
My Mortgage Company
Chad Burckhard
|
|
|
|
You are receiving this from Chad Burckhard. Unsubscribe
|