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Mortgage Market Update
My Mortgage Company
Amy Gargala
Friday, November 6, 2026
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Not all mortgages fit the same person |
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One of the things I love about this job is helping borrowers find the mortgage structure that actually works for them—not just any mortgage.
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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
Why your neighbor's mortgage might not be your mortgage
Not all mortgages are created equal—and that's actually good news for you. Different loan programs exist because different people have different situations. A first-time buyer with a smaller down payment might benefit from a program that doesn't work for someone with substantial equity. Self-employed borrowers have options that W-2 employees might not need. The right program for you depends on your timeline, how long you plan to stay in your home, your down payment, and your financial picture. I've helped borrowers realize they were in the wrong program when a quick conversation revealed a better fit. That conversation often pays for itself many times over. Let's talk about which programs actually make sense 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
Amy Gargala
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