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Mortgage Market Update
Matthew Richardson
Matthew Richardson
Friday, November 6, 2026
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Different mortgages, different outcomes |
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There's more variety in home loans than most people realize. Understanding the differences can save you real money.
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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 work the same way
I talk to a lot of people who think a mortgage is a mortgage—but the program you choose shapes your whole borrowing experience. Fixed-rate loans lock in your payment forever. Adjustable-rate mortgages start lower but can change over time. Some programs let you build equity faster; others prioritize lower monthly payments. There's no universal 'best'—it depends on how long you plan to stay, your comfort with risk, and your financial goals. The wrong program can cost you thousands over the life of your loan. The right one can align perfectly with your situation. If you've never compared your options side by side, or if you're wondering whether your current loan still makes sense for where you are now, I'd love to walk through what's available to you. Let's talk about which program might work best 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 Matthew Richardson team any time and we'll walk you through your options. |
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