Bailey Smith · November 6, 2026

Rates just moved—here's what that means

Mortgage Market Update

My Mortgage Company

Bailey Smith

Friday, November 6, 2026

Rates just moved—here's what that means

Mortgage rates are always in motion, and that affects more than just your bottom line. Let's break down what you should actually care about.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey

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.


Rate Movement

When rates shift, your options shift too

Interest rates don't stay still for long, and when they move, it changes what you can actually afford. A rate increase might mean a higher monthly payment on a new purchase, or it could mean refinancing becomes less attractive. On the flip side, if rates drop, that's often when people wake up to missed opportunities. The key thing to understand: your situation today isn't static. Whether you're thinking about buying, selling, or adjusting your current loan, knowing how rate movement affects your specific numbers helps you make smarter decisions instead of reactive ones. I'm always happy to walk through what the current environment means for you.

Reach out anytime you want to talk through how rates affect your goals—no pressure, just honest guidance.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.

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.

2.

Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.

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.

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.

Your Mortgage Advisor

M

My Mortgage Company

Bailey Smith

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