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Mortgage Market Update
My Mortgage Company
Elizabeth Gibson
Friday, November 6, 2026
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Picking the right loan type matters |
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Hello—this week I want to touch on something that doesn't always get the attention it deserves: choosing the right kind of mortgage for 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
Finding the right loan type for your situation
Not all mortgages work the same way, and what's right for one borrower might not fit another. Some people do better with a fixed rate that stays the same for the life of the loan. Others benefit from adjustable programs, especially if they plan to move or refinance down the road. Then there are specialized options designed for specific situations—whether you're a first-time buyer, putting down a smaller down payment, or have a unique financial picture. The key is matching the loan structure to your actual plans and comfort level, not just chasing the lowest number on a rate sheet. I'd love to walk you through what's available and help you see which option makes the most sense for where you are now. 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
Elizabeth Gibson
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