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Mortgage Market Update
My Mortgage Company
Barrett Financial - Robert Ianniciello
Friday, November 6, 2026
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Rates moved—here's what that means for you |
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Markets shift, and so do the choices available to you as a borrower. Here's what you should know 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 rates rise, your buying power shifts
If you've been shopping for a home or thinking about your next move, you've probably noticed that rate changes do more than just tweak your monthly payment—they change how much house you can actually afford. When rates move up, the same loan amount costs more each month, which means the price range you can comfortably borrow for shifts downward. The opposite is true when rates come down. It's not just math; it affects your real options in the market. If you're in the early stages of buying or wondering whether now is still the right time for you, it's worth having a fresh conversation about what those numbers mean for your specific situation. I'm here to walk through it with you. Let's talk about what your budget looks like in today's market.
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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
Barrett Financial - Robert Ianniciello
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