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Mortgage Market Update
My Mortgage Company
Ruslan Kushnir
Friday, November 6, 2026
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Why rates matter more than you think |
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Rates are moving all the time, and I know that can feel confusing if you're not sure what it means for you personally. This week I want to clear up one of the most important connections in mortgage planning.
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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
If you're shopping for a mortgage or thinking about refinancing, rate changes can feel abstract. Here's what actually matters: when rates go up, your monthly payment goes up on a new loan. When rates go down, your payment goes down. The size of that payment swing depends on the loan amount, the term you choose, and how much the rate has shifted. Understanding this connection helps you plan your budget more confidently and make decisions that fit your actual finances—not just chase the lowest rate you see on a given day. I'm happy to walk through what different rate scenarios could mean for your specific situation. Let's talk through what your payment might look like under different rate environments.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Ruslan Kushnir
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