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Mortgage Market Update
My Mortgage Company
Joshua Hicks
Friday, November 6, 2026
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Why your mortgage program matters |
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Hi there. This week I want to talk about something that often gets overlooked when people are shopping for a home or thinking about their loan.
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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 truth is, the loan program you choose shapes your entire borrowing experience. Some programs let you put down less money upfront. Others help if your credit is still being rebuilt. A few are built for people who plan to stay put; others reward those who might move in five years. The program that makes sense for your neighbor might cost you thousands more. That's why I always ask about your real plans before recommending anything. The right fit depends on your timeline, your down payment, and what matters most to you—not on what worked for someone else. If you'd like to talk through which program might actually work for your situation, I'm here to walk you through it.
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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
Joshua Hicks
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