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Mortgage Market Update
My Mortgage Company
Alex Hernandez
Friday, November 6, 2026
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When your payment feels like too much |
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Money conversations aren't always easy, but they're always worth having. Here's what homeowners should know if their monthly payment is feeling like a strain.
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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 budget feels tight, here's what you can do
If your mortgage payment is stretching your monthly budget, you're not alone—and you have options. Sometimes it's as simple as adjusting your loan term, exploring different program types, or reviewing whether your escrow account is working for you. Other times, it might mean looking at your overall debt picture to free up breathing room. The point is, you don't have to live uncomfortably with a loan that no longer fits your situation. A conversation with me can help you understand what's actually possible without starting from scratch. I can walk through your numbers, explain your realistic options, and help you figure out if a change makes sense for your life right now. Let's talk through what might work better 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Alex Hernandez
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