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Mortgage Market Update
Edgar Franco
Edgar Franco
Friday, November 6, 2026
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Picking the right loan program for you |
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Hi there. I want to talk about something that doesn't get nearly enough attention when people are shopping for a mortgage.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
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
The right program matters more than you think
When you're ready to buy or refinance, there are usually several loan programs that could work for your situation—and the one you choose can make a real difference in your monthly payment, how long you're paying, and what flexibility you have down the road. Some programs suit first-time buyers better. Others reward borrowers with solid credit or existing equity. A few are built for specific circumstances, like buying in a rural area or having a lower down payment. The goal isn't to find the cheapest program on paper; it's to find the one that fits your actual life. I'd love to walk you through what's available to you and why one might make more sense than another. Let's talk about which loan program aligns best with 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 Edgar Franco team any time and we'll walk you through your options. |
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