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Mortgage Market Update
My Mortgage Company
Mark Rocha
Friday, November 6, 2026
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Your mortgage payment and rate changes |
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Not all mortgages work the same way when rates move. Here's what you need to know.
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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 & Payments
What happens to your payment when rates shift
A lot of people ask me: if rates go up or down, does my payment change automatically? The answer depends on your loan type. If you have a fixed-rate mortgage, your payment stays the same for the life of the loan—that's the whole point of "fixed." But if you're on an adjustable rate, your payment can move when the rate adjusts. And if you're thinking about refinancing, rate changes directly affect what your new payment would be. Understanding this matters because it helps you plan your budget and know when a refinance might make sense. If you're curious about how rate movement could affect your specific situation, I'm here to walk through it. Let's talk about what rate changes mean for your mortgage.
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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
Mark Rocha
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