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Mortgage Market Update
My Mortgage Company
Stephanie Pena - FD
Friday, November 6, 2026
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Your loan program makes a real difference |
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One of the most important decisions in your mortgage isn't the one most people focus on. Here's what you need to know.
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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 Program Fit
Why your loan type matters more than you think
When you're shopping for a mortgage, it's easy to fixate on rates and monthly payments. But the actual loan program you choose—whether it's conventional, FHA, VA, USDA, or something else—shapes your entire borrowing experience. The right program for your situation can mean lower down payment requirements, more flexible credit standards, or built-in protections you didn't know existed. The wrong one might leave you paying for things you don't need or missing out on benefits you qualify for. I've seen borrowers get approved through one program and then realize a different one would have saved them money or stress. It's worth understanding what's actually available to you before you commit. Let's talk through your options and find the fit that makes sense for where you are right now. Reach out if you'd like to explore which loan program works 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
Stephanie Pena - FD
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