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Mortgage Market Update
Rachel Weaver
Rachel Weaver
Friday, November 6, 2026
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Why your payment might (or might not) change |
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Hi there. I want to clear up a question I hear often from borrowers, especially when the market shifts.
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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
A lot of people ask me: if rates go up or down, does my monthly payment change? The answer depends on your loan type. If you have a fixed-rate mortgage, your payment stays locked in for the entire life of the loan—no surprises. If you're on an adjustable-rate mortgage, your payment can change when the rate adjusts, which means your principal and interest payment could go up or down. Understanding which type you have helps you budget with confidence and know what to expect down the road. If you're unsure about your loan or curious whether your current mortgage is working for your situation, I'm here to walk you through it. Let's talk about your mortgage and make sure you know exactly what to expect.
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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 Rachel Weaver team any time and we'll walk you through your options. |
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