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Mortgage Market Update
My Mortgage Company
Megan Cox
Friday, November 6, 2026
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Choosing the right loan program for you |
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Hi there,
I want to help you understand the loan options available to you—because the type of mortgage you choose matters more than most people realize.
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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
Conventional vs. FHA: which loan fits your situation?
When you're ready to buy or refinance, the type of loan you choose shapes everything—your down payment, monthly payment, and long-term costs. Conventional loans and FHA loans are two of the most common paths, and they work very differently. Conventional loans typically require a larger down payment but may offer lower rates and fewer fees over time. FHA loans are designed to help borrowers with smaller down payments or less-than-perfect credit get approved. Neither is universally "better"—it depends on your financial picture, credit score, and how long you plan to stay in the home. The right choice can mean real savings. If you're unsure which program makes sense for you, I'd love to walk through your options. Reach out and let's talk about which loan program could work best for 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
Megan Cox
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