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Mortgage Market Update
Troy Shuler
Troy Shuler
Friday, November 6, 2026
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When your rate moves, does your payment? |
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Rates are always moving, and I know questions come up about what that means for your wallet. Let me break down how it actually works.
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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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Payment Reality
When rates move, here's what happens to your mortgage
One question I hear often: if rates go up or down, does my payment change? The answer depends on what kind of loan you have. If you're locked into a fixed rate, your monthly payment stays the same for the life of your loan—that's the security fixed-rate mortgages give you. If you're on an adjustable rate, your payment can change when the rate adjusts, which is why it's important to understand the terms upfront. Even if you're not shopping right now, knowing how rates affect your specific loan helps you plan ahead and make smarter money decisions. I'm happy to walk you through how your loan works or explore options that might fit your situation better. Let's talk about your loan and what rate movement could mean for you.
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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 Troy Shuler team any time and we'll walk you through your options. |
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