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Mortgage Market Update
My Mortgage Company
Kelly Rankin — Kelly Rankin
Friday, November 6, 2026
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Life changes, mortgage options change |
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I work with borrowers at all stages of homeownership. One thing I've noticed is that people don't always recognize when their circumstances have shifted enough to open new possibilities—or require a new strategy.
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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 income changes, your mortgage options do too
Life happens—a raise, a job change, a second income in the household. A lot of people don't realize that when your financial picture shifts, you may have opened doors you didn't have before. More income can mean access to different loan programs, the ability to refinance into better terms, or even the flexibility to take cash out of your home's equity. The reverse is true as well: if your situation has tightened, we can explore programs designed to work with where you are now. Either way, it's worth a conversation. I've helped plenty of borrowers find options they didn't know existed simply because their circumstances had changed since we last talked. Let's talk about what your current situation means for your mortgage options.
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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
Kelly Rankin — Kelly Rankin
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