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Mortgage Market Update
Kristopher McCury
Kristopher McCurry
Friday, November 6, 2026
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Your payment changes when rates move |
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Hi there. This week I want to talk about something that affects almost every homebuying or refinancing decision you might make.
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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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Affordability Check
When your rate changes, your payment math changes too
A lot of people think about rates in a vacuum—just a number on a screen. But what actually matters is how your rate connects to your monthly payment and whether that payment still fits your life. When rates move, even a small shift changes what you can afford to borrow, or what you'll pay each month if you're already locked in. If you're thinking about buying soon or wondering whether now is the right time, it's worth running the numbers on what's realistic for your budget. The good news: this math is straightforward once you sit down and look at it. I can help you figure out where you stand and what your options really are. Let's talk through what affordability looks like for you right now.
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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 Kristopher McCury team any time and we'll walk you through your options. |
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