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Mortgage Market Update
My Mortgage Company
At Home With Gary Foote
Friday, November 6, 2026
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Different loans, different rules |
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When you're shopping for a mortgage, it's easy to focus only on the rate. But the type of loan you choose matters just as much—sometimes more.
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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
One of the biggest decisions you'll make isn't about your rate—it's about which type of loan fits your life. Fixed-rate mortgages keep your payment steady forever, which works great if you like predictability. Adjustable-rate mortgages start lower but can change over time, which appeals to some borrowers with a different timeline in mind. Then there are programs designed for specific situations: VA loans for military service members, FHA loans that require less down, jumbo loans for higher-priced homes. Each one has different rules, costs, and benefits. The right choice depends on your plans, how long you're staying put, and what feels manageable to you. I'd love to walk you through the options that actually make sense for your situation. Let's talk about which loan program might work best for you.
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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
At Home With Gary Foote
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