Mortgage Market Update

My Mortgage Company

Jamie Becker

Friday, November 6, 2026

When your mortgage payment feels like too much

Hi there. This week I want to talk about something I hear often but people don't always raise first: what to do when your current mortgage stops feeling comfortable.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Affordability

When your budget feels tight, you have more options than you think

Life happens. A job change, unexpected expenses, or just the weight of monthly obligations can make your mortgage feel heavier than it did before. If you're feeling stretched, the first instinct is often to suffer in silence. But there are real conversations we can have.

Depending on your situation—how long you've been in your home, what your loan looks like, whether rates have moved—you might be able to adjust your terms, explore a different loan program, tap into equity you've built, or simply understand your options better. None of these decisions are one-size-fits-all, and none require you to overhaul your life. Sometimes a small change makes a meaningful difference.

If your mortgage feels like it's outpacing your budget, let's talk through what's possible for you.

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

My Mortgage Company

Jamie Becker

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