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Mortgage Market Update
Jan-Michael McClintic
Jan-Michael McClintic
Friday, November 6, 2026
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When rates move, so does your budget |
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Rates don't stay still, and neither does affordability. Here's what that means for 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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Affordability Check
What changed about your buying power
If you've been shopping for a home or watching the market, you've noticed that your money goes different distances depending on where rates land. When rates shift, your monthly payment on the same loan amount moves with it — sometimes by meaningful amounts. This affects not just what you can afford, but which homes are actually within reach. The good news: if rates have come down since you started looking, you may qualify for more. If they've risen, it's worth reviewing your budget to see where you stand. Either way, it's not something to guess about. I can run real numbers based on today's market and show you exactly what your situation looks like right now. Let's take ten minutes to see where your buying power stands.
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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 Jan-Michael McClintic team any time and we'll walk you through your options. |
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