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Mortgage Market Update
My Mortgage Company
Eric Smart
Friday, November 6, 2026
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Mortgage feeling tight lately? |
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Sometimes the best time to adjust your loan isn't when rates drop—it's when your life does. Here's what I'm seeing this week.
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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
When your payment becomes a stretch
Life changes fast. A job transition, medical event, or shift in family needs can turn a comfortable mortgage payment into a real burden—even if nothing changed with your loan. If you're feeling the squeeze, you have options worth exploring. A loan modification, refinance to a longer term, or even a rate-and-term adjustment might ease the pressure. The key is not waiting until you're behind. Reaching out early gives us room to work with your lender and find a path that fits your situation now, not the situation you were in when you borrowed. Let's talk about what your payment should look like today.
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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
Eric Smart
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