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Mortgage Market Update
My Mortgage Company
TEAM MEDINA LLC
Friday, November 6, 2026
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Picking the right loan type for your situation |
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Hi there. One of the questions I get most often isn't about rates—it's about which loan program to choose.
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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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Smart Borrowing
Why your loan type matters more than you think
When you're house hunting or managing a mortgage, the loan program you choose shapes your finances for years to come. Different programs offer different flexibility, different costs, and different protections—and what works for one borrower might not work for another. Some people benefit from programs that reward a larger down payment. Others do better with programs designed for first-time buyers or those with less-than-perfect credit. The point is: there's no one-size-fits-all answer. Understanding which program aligns with your situation, your timeline, and your comfort level is one of the most important decisions you'll make. I'd love to walk you through your options and help you see which one makes the most sense for you. Let's talk about which loan program fits your life.
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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
TEAM MEDINA LLC
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