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Mortgage Market Update
My Mortgage Company
Gabriel Lopez
Friday, November 6, 2026
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Your rate is just one number |
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I talk to borrowers every week who focus only on interest rates. But there's more to the story—and it's worth understanding.
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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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Mortgage Basics
Why your interest rate isn't the whole picture
When you're looking at a mortgage offer, the interest rate gets all the attention—but it's only one piece of what you'll actually pay. The terms of your loan (how long you have to repay it), the type of loan program, and what fees are included all work together to shape your true cost over time. Two loans with similar rates can feel very different month to month depending on these other factors. Understanding the full picture helps you compare apples to apples and make the choice that fits your budget and goals, not just chase the lowest number you see. Let's talk through what matters most in 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
Gabriel Lopez
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