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Mortgage Market Update
My Mortgage Company
Barrett Financial Group
Friday, November 6, 2026
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Rates moved—here's what that means for you |
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Rates don't stay still, and neither should your mortgage strategy. This week I'm breaking down what happens when the market shifts and why it matters to you.
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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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Rate Movement Impact
When rates move, your payment options change
A lot of people think rates only matter when you're shopping for a loan. But here's what actually happens: as rates shift in the market, your existing loan stays the same—but your refinancing options expand or contract. If you've been thinking about a rate adjustment, a refi, or even a loan program switch, the timing of a rate move can open doors that weren't there before. The best move is to understand where rates are today and whether your current loan still aligns with your goals. That's exactly the kind of conversation I'm here for. Let's talk about where rates stand this week and what it means for your situation.
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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 Group
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