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Mortgage Market Update
My Mortgage Company
Sean Fretwell
Friday, November 6, 2026
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Your mortgage rate explained |
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Hi there. I want to make sure you understand one of the most important numbers in your mortgage — and how it shapes your money over time.
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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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Mortgage Basics
Why your mortgage rate matters more than you think
Your interest rate does more than just determine your monthly payment — it affects how much interest you'll pay over the life of your loan, how quickly you build equity, and even your ability to refinance down the road. Small rate differences can add up to tens of thousands of dollars over 15 or 30 years. Understanding this helps you make smarter decisions about when to lock in, whether refinancing makes sense, and how to think about your mortgage as part of your bigger financial picture. If you're curious about what your rate might be or how it compares to what you're paying now, I'm here to walk you through it. Let's talk about what your rate means for your situation.
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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
Sean Fretwell
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