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Mortgage Market Update
Jennifer Clemens
Clemens Mortgage Group, LLC
Friday, November 6, 2026
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Choosing the right loan type for you |
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A Note From Jennifer Clemens
Happy Friday! 😎
Mortgage rates saw some pressure this week as markets reacted to ongoing global tensions and economic uncertainty. This afternoon, bond markets sold off after the Trump/Xi summit wrapped up with little progress toward easing concerns overseas, pushing Treasury yields to their highest levels since May 2025.
Temporary rate buy-downs continue to be a hot topic and help buyer's ease into their mortgage payment. Seller concessions, rate buy downs, bridge loans and strategy conversations can make a huge difference.
Also - We can now offer VantageScore options on certain loan programs in addition to traditional FICO scoring. This could be a game changer for some buyers and may even help save deals that previously may not have qualified. 🙌
If you need help running numbers or navigating a tricky scenario, I’m always just a text away!
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I've noticed a lot of people focus only on interest rates when they're looking for a mortgage. That's understandable—but it's only part of the picture.
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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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Loan Programs
The loan program you choose shapes your whole mortgage
A lot of people think all mortgages are basically the same — you just shop around for the best rate. But the type of loan you pick (fixed-rate, adjustable-rate, FHA, conventional, VA, USDA) actually changes how much flexibility you have, what your long-term costs look like, and whether refinancing will be an option later. Each program has real tradeoffs. The right choice depends on your timeline, how long you plan to stay in the home, and your comfort with risk. Spending time on this decision upfront can save you headaches and money down the road. I'd be happy to walk through what makes sense 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 Jennifer Clemens team any time and we'll walk you through your options. |
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602-214-9048 | https://clemensmortgagegroup.com/
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