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Mortgage Market Update
Brennen Clouse
Brennen Clouse
Friday, November 6, 2026
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The loan type matters more than you think |
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Hi there. This week I want to talk about something borrowers don't always ask about, but should.
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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
When you're shopping for a loan, it's easy to focus only on the interest rate. But the type of mortgage you choose matters just as much. Some loans let you build equity faster. Others offer flexibility if your situation changes. Some come with different down payment options or protection against rising rates. The right program for you depends on your timeline, your comfort with payments, and what happens after you close. That's why I always recommend taking time to understand what each option actually does—not just what it costs today. Let's talk about which programs fit your real life. If you'd like to walk through your options, I'm here to help.
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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 Brennen Clouse team any time and we'll walk you through your options. |
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