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Mortgage Market Update
Chris George
Chris George
Friday, November 6, 2026
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What Congress could do for mortgage rates |
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This week we're looking at a few stories that could actually affect your wallet—from what's happening in Washington to tax changes that might reshape the housing market in certain states. Here are the ones worth your attention.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
6.68% 30-day Range: 6.68%–6.90%
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Conventional 15-Year
6.20% 30-day Range: 6.20%–6.36%
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FHA 30-Year
6.27% 30-day Range: 6.27%–6.58%
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VA 30-Year
6.13% 30-day Range: 6.13%–6.50%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr and 15-yr: Freddie Mac weekly survey · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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
Which loan program fits your situation?
Not all mortgages are created equal, and the right program for your neighbor might not be right for you. Some borrowers benefit from fixed rates that lock in predictability. Others qualify for programs with lower upfront costs or more flexible credit requirements. First-time buyers often have access to programs designed specifically for them. The key is understanding what's available and how each option affects your monthly payment, total interest, and long-term financial picture. I'd be happy to walk you through the programs you actually qualify for and explain how they'd work with your specific goals.
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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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HousingWire
With the new Congress in session, there are four specific economic levers lawmakers could pull to help lower mortgage rates. Since mortgage rates are tied to the 10-year Treasury yield, what happens in Washington—especially around inflation, growth, and fiscal policy—can directly affect what you pay each month.
| Key takeaway: monitoring congressional action on spending and economic policy gives you insight into whether mortgage rates might improve in the months ahead. |
Read full article →
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HousingWire
Florida voters approved Amendment 3, which raises the homestead exemption from $50,000 to $250,000 starting in 2028. If you own a primary home in Florida, this means your property taxes could drop significantly, though you'll need to be a state resident by the end of 2026 to qualify.
| Key takeaway: if you're considering a Florida move, this tax savings could help your long-term affordability—just make sure you establish residency by the deadline. |
Read full article →
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HousingWire
New York City's new pied-à-terre tax on non-primary homes valued over $5 million has been upheld by an appeals court. The surcharge will stay in place through July 2028, making it more expensive to own a second home in the city.
| Key takeaway: if you own or are considering a luxury second home in New York City, factor this surcharge into your long-term costs. |
Read full article →
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HousingWire
American Housing Corporation is launching a new division in Austin that will build factory-constructed, infill urban rowhomes. This approach can reduce construction costs and timelines, potentially offering more affordable options in a tight housing market.
| Key takeaway: factory-built homes like these can mean faster construction and lower prices, which is worth exploring if you're shopping in Austin or another growing city. |
Read full article →
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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 Chris George team any time and we'll walk you through your options. |
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2701 E Insight Way, Suite 150, Chandler, AZ, 85286
NMLS# 745236 · Company NMLS# 181106
615-422-4705 | https://www.cgmtgteam.com
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