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Mortgage Market Update
Jason Thomas
Jason Thomas
Friday, November 6, 2026
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How much does a rate move really cost you |
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Changes in rates get a lot of attention, but the real question is how they hit your wallet. Here's what you need to know.
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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 Reality
What actually changes when rates move
I get asked this often: if rates go up or down, how much does my payment actually shift? The answer matters because it helps you plan. When rates move, your monthly payment moves with them — sometimes noticeably, sometimes less so depending on your loan amount and term. Understanding this connection helps you make smarter decisions about timing, loan type, and whether refinancing pencils out. It also removes the guesswork from "what if" conversations. If you're thinking about buying soon or looking at your current mortgage, it's worth sitting down and talking through how rate changes could affect your specific situation. I'm here to walk you through the real numbers whenever you're ready. Let me show you how rate movements affect your payment and options.
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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 Jason Thomas team any time and we'll walk you through your options. |
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