Mortgage Market Update

My Mortgage Company

Kenneth Harter

Friday, November 6, 2026

Picking the right loan type for you

There's more to choosing a mortgage than comparing rates. Today I want to talk about loan programs, and why the one you pick matters.

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.

Mortgage Basics

Why your loan type matters more than you think

When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the type of loan you choose—fixed-rate, adjustable-rate, FHA, conventional, VA—shapes your entire borrowing experience. Each has different rules about down payments, who qualifies, how your payment changes over time, and what flexibility you have down the road. The right fit depends on your timeline, how long you plan to stay in the home, and your comfort with payment changes. I've seen borrowers save money and avoid stress simply by matching their situation to the right loan program. If you're not sure which option makes sense for you, I'd like to walk through it together.

Reach out anytime—I'm happy to explain which loan type might work best for your situation.

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

Kenneth Harter

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