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Mortgage Market Update
My Mortgage Company
Jennifer Everhart
Friday, November 6, 2026
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Which loan type are you actually using? |
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Hi there. This week I want to clear up something I see borrowers overlook all the time—the actual structure of their loan.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
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 loan type matters more than you think
Most people focus on interest rates when shopping for a mortgage, but the type of loan you choose shapes your entire borrowing experience. A fixed-rate loan locks in stability; an adjustable-rate option might offer initial flexibility; government-backed programs can open doors for borrowers who don't fit traditional molds. Each program has different rules around down payments, credit requirements, and how much house you can actually afford. The right choice depends on your timeline, risk tolerance, and financial goals—not just what sounds cheapest today. I'd love to walk you through what each option means for your situation and which might be the best fit. Let's talk about which loan program makes sense for you.
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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
Jennifer Everhart
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