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Mortgage Market Update
Jerel Richart
Jerel Richart
Friday, November 6, 2026
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Rates moved this week—here's what to know |
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Every week brings small shifts in the mortgage market. I wanted to break down what those moves actually mean for homeowners and buyers like you.
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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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Rate Environment
What happens to your payment when rates move
When mortgage rates shift, it affects borrowers in different ways depending on where they are in their loan journey. If you're thinking about buying or refinancing, a rate change directly impacts your monthly payment and how much home you can afford. If you already have a fixed-rate mortgage, your payment stays locked in—but rates matter if you're considering a refinance down the road. Understanding how rates work gives you better clarity on timing and your options. The key is staying informed without getting caught up in day-to-day noise. I'm happy to walk through what any rate movement means for your specific situation. Let's talk about where rates stand and what they mean for you.
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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 Jerel Richart team any time and we'll walk you through your options. |
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