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Mortgage Market Update
Shannon Palmer
Shannon Palmer
Friday, November 6, 2026
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Before you shop for a mortgage, read this |
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A lot of people wait to organize their finances until a lender asks for them. Here's a smarter approach.
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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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Getting Started
What to do before you call a lender
If you're thinking about buying a home or refinancing your mortgage, a little prep work before you reach out makes the whole process smoother. Lenders will want to see your recent pay stubs, tax returns, bank statements, and a sense of your credit situation—and having those things ready means you'll get clearer answers faster. There's no penalty for looking into your options; it's just smart to know where you stand. When you're ready to talk numbers and see what loan programs might fit your situation, I'm here to walk you through it. Reach out anytime you'd like to start the conversation.
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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 Shannon Palmer team any time and we'll walk you through your options. |
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