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Mortgage Market Update
My Mortgage Company
Nick Mastropietro
Friday, November 6, 2026
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Understanding your loan options |
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There's a lot of choice when it comes to mortgages, and that can feel overwhelming. Here's what you should know about how different loan types work.
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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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Loan Programs
What your loan type means for your money
When you're shopping for a mortgage or thinking about refinancing, the loan program you choose affects more than just your interest rate—it shapes your entire financial picture. Different programs come with different rules about down payments, credit requirements, how long you have to pay back the loan, and whether your rate stays fixed or can adjust over time. Understanding what's available to you helps you pick the option that actually fits your life, not just the one that sounds cheapest right now. If you're curious about what programs might work for your situation, I'd be happy to walk through the real trade-offs with you. Let's talk about which loan program makes sense for where you are right now.
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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
Nick Mastropietro
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