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Mortgage Market Update
My Mortgage Company
Hector Lopez
Friday, November 6, 2026
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Your loan program choice matters more than you think |
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Hi there. Every week I see borrowers making decisions based on incomplete information. This week I want to clear up something fundamental about how mortgages actually work.
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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
What your loan type actually costs you
Not all mortgages are built the same, and the loan program you choose affects more than just your interest rate. Different programs come with different flexibility, different costs upfront, and different rules about what you can do with your home down the road. Some borrowers benefit from programs designed for first-time buyers. Others have options around how much they put down or how they structure their payments. The catch: the "best" program for you depends entirely on your situation, your timeline, and what matters most to you financially. That's why it's worth having a real conversation about which program actually fits, rather than just accepting the first option you hear about. I'd love to walk you through what's available and what each one means for your wallet. Let's talk through which loan program makes sense 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
Hector Lopez
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