Mortgage Market Update

My Mortgage Company

Michael DeVincentis

Friday, November 6, 2026

What rate changes really mean for you

Rates move constantly, and it can feel confusing. Let me break down why those moves matter to your wallet and your options.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Mortgage Basics

Why your rate matters more than you think

When rates move, it affects more than just your monthly payment—it changes how much house you can afford, how much interest you'll pay over time, and which loan program makes the most sense for your situation. A small rate change can mean the difference between one property and another, or between refinancing now versus waiting. That's why I encourage borrowers to stay informed about where rates are heading, not because it's time to panic, but because it helps you make decisions from a place of clarity. Whether you're buying soon, thinking about refinancing, or just staying sharp on your options, understanding how rates influence your mortgage is one of the smartest moves you can make.

Let's talk about what current rates mean for your specific goals.

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

Michael DeVincentis

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