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Mortgage Market Update
Ryan Miller
Ryan Miller
Friday, November 6, 2026
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Not all mortgages are built the same |
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Every homeowner's needs are different, and your mortgage should reflect that. Let me break down how loan structure affects your long-term plan.
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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 Program Guide
Which mortgage type fits your life?
Not all mortgages work the same way, and the right one depends on your situation, not just the rate. A fixed-rate loan keeps your payment steady for the full term—predictable and reliable. Adjustable-rate mortgages start lower but can change, which works well if you plan to move or refinance before rates shift. Shorter loan terms build equity faster but mean higher monthly payments; longer terms spread the cost out and keep breathing room in your budget. The best choice comes down to how long you plan to stay in your home and what payment fits your life right now. I'd be happy to walk through the pros and cons of each option and help you figure out what makes sense for you. Let's talk about which loan structure works best 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 Ryan Miller team any time and we'll walk you through your options. |
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