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Mortgage Market Update
My Mortgage Company
Justin Stein's Account
Friday, November 6, 2026
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Picking the right loan program matters |
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Hello — here's something I see homebuyers overlook all the time. You'll hear a lot about rates, but the type of loan you choose shapes your entire experience as a borrower.
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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 are built the same
When you're shopping for a mortgage, it's easy to focus only on interest rates. But the loan program you choose matters just as much. Different programs come with different rules about down payments, credit requirements, how much you can borrow, and what happens if rates move. Some programs reward borrowers who put down less money. Others work better if you're buying a investment property or have an irregular income. The right fit depends on your specific situation — not just what sounds cheapest today. That's why I always recommend talking through your options before you apply. A few questions now can help you avoid surprises later. Let's talk about which loan program makes the most 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
Justin Stein's Account
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