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Mortgage Market Update
My Mortgage Company
Tom Rydberg
Friday, November 6, 2026
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Different loans, different tradeoffs |
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Not all mortgages are built the same. Here's why that matters for your next move.
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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
When you're ready to buy or refinance, the loan program you choose shapes your whole financial picture—not just your rate. Different programs come with different rules about down payments, credit needs, property types, and how long you're locked in. Some are built for first-time buyers. Others reward a larger down payment. A few let you skip the traditional appraisal. The right fit depends on your situation, not what worked for your neighbor. I'd rather spend 15 minutes understanding your goals than have you sign papers that don't align with your life. What matters most to you—flexibility, lower upfront costs, or building equity faster? Let's talk about which program makes sense for you.
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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
Tom Rydberg
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