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Mortgage Market Update
My Mortgage Company
OFF - New - Summit Mortgage Solutions
Friday, November 6, 2026
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Picking the right mortgage program |
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There's more to choosing a mortgage than just the interest rate. This week I want to talk about loan programs and why the one you pick should match your life.
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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 are created equal
When you're shopping for a home or thinking about your current mortgage, the loan program you choose matters as much as the rate itself. Different programs come with different rules about down payments, credit requirements, and how much house you can afford. Some are designed for first-time buyers. Others work better if you have substantial equity. A few offer flexibility if your income varies. The right program for your neighbor might not be the right one for you—and that's okay. Understanding what's available and which one fits your situation is where clarity starts. If you'd like to talk through which program might make sense for your goals, I'm here to walk you through it. Let's find the right fit for your situation—reach out and we can explore your options.
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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
OFF - New - Summit Mortgage Solutions
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