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Mortgage Market Update
My Mortgage Company
Elias Espejo
Friday, November 6, 2026
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Which mortgage program fits your plan? |
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Every borrower's situation is different, and so are the solutions that work best. This week, I want to break down how choosing the right loan program can make a real difference in your financial picture.
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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 Fit
Picking the right loan program for your goals
There's more than one way to finance a home, and the program that works best depends on what matters most to you right now. Some borrowers prioritize a lower monthly payment; others want to build equity faster or avoid paying interest over time. Fixed-rate mortgages offer predictability. Adjustable programs may start lower but can change. Government-backed loans have different requirements and benefits than conventional options. The program that's right for your neighbor might not be right for you—and that's okay. What works is matching the loan structure to your actual priorities, timeline, and situation. I'd be happy to walk you through how each option plays out in your case so you can make a confident choice. Let's talk about which program aligns best with where you're headed.
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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
Elias Espejo
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