Mortgage Market Update

My Mortgage Company

Darryl Bowles

Friday, November 6, 2026

The loan type question worth asking

There are real differences between mortgage types—and picking the right one matters more than many borrowers realize.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Loan Programs

Which loan type actually fits your situation

Not all mortgages work the same way, and the right choice depends on your timeline, risk tolerance, and financial picture. Some borrowers benefit from the stability of a fixed rate that never changes. Others prefer starting lower with an adjustable option, knowing their situation may shift. Then there are specialty programs—VA loans, FHA loans, conventional—each with different rules and advantages. The loan type you pick affects not just your payment, but your flexibility down the road. If you've been wondering whether you're in the right mortgage, or if a different type might serve you better now, let's talk through your options.

Reach out and we can walk through what loan structure makes the most sense for where you are.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.	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.

2.	Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Darryl Bowles

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