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Mortgage Market Update
My Mortgage Company
My Home Mortgage Pros
Friday, November 6, 2026
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Finding the right loan program for you |
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Hi there. This week I want to talk about something that often gets overlooked when people are focused on rates and payments.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
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 home or thinking about refinancing, the interest rate gets most of the attention—but the loan program itself matters just as much. Different programs come with different rules about how much you need to put down, what your credit score has to be, how long you have to repay, and what happens if rates rise or fall. Some programs are built for first-time buyers. Others work better if you have substantial equity. A few are designed to let you lock in a rate for a set time, while others give you more flexibility. The right program depends on your situation, your timeline, and what you're trying to accomplish. I'd be happy to walk you through which programs might make sense for you. Let's talk about which loan program fits your goals.
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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
My Home Mortgage Pros
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