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Mortgage Market Update
My Mortgage Company
Nebil Mathewos
Friday, November 6, 2026
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Why your payment went up (and it might not be rates) |
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Hi there. I want to walk you through something that catches a lot of homeowners off guard—and it's simpler than you might think.
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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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Mortgage Basics
Why your monthly payment might change even when rates don't
Your mortgage payment is built from a few moving pieces—principal, interest, taxes, and insurance. Most borrowers focus on interest rates, which makes sense. But here's what surprises people: your payment can shift even when rates stay flat. Property taxes rise. Insurance premiums change. If you have an adjustable-rate loan, the rate itself adjusts on schedule. Understanding what drives your payment helps you budget smarter and spot opportunities to refinance or adjust your strategy. If you've noticed your payment creeping up and aren't sure why, that's worth investigating together. Let's walk through your statement and talk about what's really moving your payment.
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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
Nebil Mathewos
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