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Mortgage Market Update
Eric Halverson
Eric Halverson
Friday, November 6, 2026
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Why your loan type matters more than you think |
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Hi there. This week I want to dig into something that often gets overlooked when people are shopping for a mortgage: the loan program itself.
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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
What your loan type really costs you
Your mortgage isn't just one product—it's a bundle of choices that add up. Fixed versus adjustable. Conventional, FHA, VA, USDA. Shorter loan terms or longer ones. Each choice carries different costs and benefits over time, and what works for your neighbor might not work for you. The right fit depends on how long you plan to stay, your comfort with change, and what you can actually afford today and tomorrow. If you've never had a full conversation about why one program might serve you better than another, it's worth having. I can walk you through the real trade-offs without the sales pitch. Let's talk about which loan program actually fits 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 Eric Halverson team any time and we'll walk you through your options. |
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