Mortgage Market Update

My Mortgage Company

Standard Mortgage

Friday, November 6, 2026

Locked into the wrong mortgage?

Hi, I work with a lot of homeowners who don't realize how much flexibility they actually have after closing. Here's what I mean:

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Loan Program Fit

Locked in at the wrong rate? You might have options.

A lot of people assume their mortgage terms are set in stone once they sign closing papers. But depending on where rates have moved and how much equity you've built, you might be eligible for a different loan program than what you have now—one that could work better for your situation today.

Maybe you took out a longer-term loan when rates were higher, and now a shorter timeline makes sense. Or you've paid down enough principal that a different structure could lower your costs. The point is, your first mortgage doesn't have to be your forever mortgage. If something feels off about your current setup, it's worth a conversation to see what's actually available to you.

Let's talk about whether a change could help your finances.

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

Standard Mortgage

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