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Mortgage Market Update
My Mortgage Company
Mauricio Valencia
Friday, November 6, 2026
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Your payment could change—here's why |
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Homeownership comes with predictability—and surprises. This week, I want to walk you through one of the biggest surprises homeowners miss.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
7.18%
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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.
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Payment Reality
Why your payment might move even if rates don't
Most people think their mortgage payment is locked in forever—and in one sense, it is. But if you have an adjustable-rate loan, an escrow account, or property taxes that shift, your monthly bill can change even when interest rates stay flat. Property tax reassessments happen on their own schedule. Insurance premiums climb. And if you're in an ARM period where the rate adjusts, your principal and interest payment itself can move. Understanding what's fixed and what isn't helps you budget smarter and spot changes before they hit your account. If you're unsure what type of loan you have or how your payment is built, that's worth clarifying now. Let's review your loan structure and payment breakdown together.
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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
Mauricio Valencia
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