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Mortgage Market Update
Derek Mollin
Derek Mollin
Friday, November 6, 2026
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Your loan program might not be the best one for you |
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Not every mortgage is structured the same way, and that matters more than most people realize. This week I'm breaking down why the program you choose can make a real difference.
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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 created equal
One of the biggest decisions you'll make as a borrower isn't always obvious: which loan program fits your situation. Fixed-rate mortgages, adjustable options, government-backed programs—they each have trade-offs that can affect your payment, flexibility, and long-term costs in different ways. What works for your neighbor might not be the best fit for you, especially depending on how long you plan to stay in your home and how comfortable you are with payment changes. The right program can mean real money in your pocket over time. If you've been curious about whether you're in the right loan, or if life circumstances have changed since you closed, I'd love to walk through your options with you. Let's talk about which program makes the most sense for where you are right now.
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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 Derek Mollin team any time and we'll walk you through your options. |
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