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Mortgage Market Update
Nicole Strong
Nicole Strong
Friday, November 6, 2026
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Picking the right loan type matters |
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Hi there. Each week I share something real about mortgages and homeownership—things that actually affect your wallet and your peace of mind.
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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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Loan Programs
Not all mortgages are built the same
One thing I've noticed over the years is that borrowers often think a mortgage is just a mortgage—but the loan program you choose can make a real difference in what you pay and how flexible your terms are. Some programs let you put down less money upfront. Others reward you for a larger down payment. Some lock in your rate for thirty years; others adjust over time. The right fit depends on your timeline, how stable your income is, and your comfort level with change. If you're shopping, curious about what you qualify for, or wondering whether your current loan is still the best match for where you are now, that's worth a conversation. I can walk you through the options without any pressure. Let's talk about which loan program makes the most sense for your situation.
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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 Nicole Strong team any time and we'll walk you through your options. |
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