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Mortgage Market Update
My Mortgage Company
Providence Bridge Fund
Friday, November 6, 2026
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When rates move, your payment moves too |
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Rates have been moving around lately, and I know that can feel unsettling. Here's what's actually happening to your monthly costs.
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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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Monthly Budget
What changes when your rate moves
When mortgage rates shift — even by a small amount — your monthly payment can move quite a bit. A rate increase means a higher payment on a new loan or refinance; a rate decrease can lower it. The tricky part is that your payment isn't just about the rate. It also depends on how much you're borrowing, how long your loan is, and what you already owe. If you're thinking about refinancing or buying, it's worth sitting down and running the real numbers so you know what to expect. There's no guessing required here — I can walk you through exactly how a rate change would affect your specific situation. Let's look at your numbers and see what makes sense for your goals.
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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
Providence Bridge Fund
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