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Mortgage Market Update
My Mortgage Company
Amanda Rawls
Friday, November 6, 2026
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The one mortgage choice that outlasts the others |
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One of the biggest decisions you'll make isn't about rates—it's about time. Here's what you need to know.
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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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Mortgage Basics
Why your loan term matters more than you think
When you're shopping for a mortgage, the interest rate gets most of the attention—but the length of your loan is just as important. The term you choose (usually 15 or 30 years) affects not just your monthly payment, but how much you'll pay in total interest over the life of the loan, and how quickly you'll build equity in your home. A shorter term means higher monthly payments but significant interest savings. A longer term spreads payments out, making them easier to manage month-to-month. Neither is universally right—it depends on your income, goals, and what fits your life right now. If you're not sure which makes sense for your situation, I'd love to walk through the trade-offs with you. Reach out and let's talk about which term aligns with your goals.
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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
Amanda Rawls
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