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Mortgage Market Update
My Mortgage Company
Michael Rosenblum
Friday, November 6, 2026
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Which loan type is right for you? |
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Most people focus on rates, but the loan program itself shapes your entire mortgage experience. Here's what you need to know.
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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
One of the biggest decisions you'll make isn't just the interest rate—it's the type of loan itself. Fixed-rate mortgages lock in your payment for the life of the loan, which appeals to people who want stability. Adjustable-rate mortgages start lower but can change over time, which works for some borrowers but not others. Then there are specialty programs designed for specific situations: first-time buyers, rural properties, lower down payments, or investment properties. Each has different rules, requirements, and long-term costs. Picking the right loan type for your goals and timeline matters as much as shopping rates. I'd love to walk you through what's actually available to you and why one might fit better than another. Let's talk about which loan program makes sense for your situation.
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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
Michael Rosenblum
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