Pearl Cook | Edge Home Finance · November 6, 2026

When rates move, here's what changes for you

Mortgage Market Update

My Mortgage Company

Pearl Cook | Edge Home Finance

Friday, November 6, 2026

When rates move, here's what changes for you

Hi there. Rates have been moving around lately, and I want to make sure you understand what that actually means for your mortgage and your options.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

Rate trend

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.


Payment Planning

What happens to your payment when rates change

If you're a homeowner with a fixed-rate mortgage, your payment stays the same no matter what happens in the market—that's the security of locking in your rate. But if rates move, it affects what your payment would be on a new loan, and it also changes how much buying power you have if you're shopping. When rates go up, the same home costs more to borrow for. When they come down, borrowing becomes easier. Understanding this helps you make smarter decisions about whether to refinance, buy now, or wait. The key is knowing your own situation: what rate you have, what your goals are, and how movement in the market actually touches your wallet.

If you'd like to talk through how current market conditions affect your next move, let me know.

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

M

My Mortgage Company

Pearl Cook | Edge Home Finance

You are receiving this from Pearl Cook | Edge Home Finance.  Unsubscribe