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Mortgage Market Update
Matthew Scalese
Matthew Scalese
Friday, November 6, 2026
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Your loan type matters more than you think |
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Hi there. This week I want to shine a light on something a lot of homeowners never really think about until it's too late—the loan program itself.
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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 surprises I see with borrowers is discovering that their loan program shapes their whole experience—how much you can borrow, what your payment looks like years from now, and what flexibility you have down the road. Some programs let you build equity faster. Others offer more breathing room if rates shift. Some work better if you're planning to stay put; others make sense if you think you'll move or refinance. The right fit depends on your timeline, your comfort level, and your financial picture. If you're buying soon or thinking about a mortgage move, it's worth understanding what's actually available to you and why one option might serve your goals better than another. Let's talk about which loan program makes the most sense for where you are right now.
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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 Matthew Scalese team any time and we'll walk you through your options. |
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