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Mortgage Market Update
My Mortgage Company
Brandon Bailey
Friday, November 6, 2026
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Picking the right loan type for your situation |
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Hi there,
One of the smartest conversations we can have starts before we talk about rates at all.
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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
Not all mortgages work the same way
When you're shopping for a home or thinking about refinancing, the interest rate gets most of the attention—but your loan program matters just as much. Different programs come with different rules about down payments, credit requirements, how fast you build equity, and what flexibility you have later. A conventional loan works one way; an FHA loan another. Some programs let you put down less upfront. Others come with specific protections or tradeoffs. The right choice depends on your situation—what you can afford now, how long you plan to stay, and what matters most to you. I'd love to walk you through which programs might make sense for your goals so you're not just picking a rate, but picking a loan that actually fits your life. Let's talk about which loan program could work best 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
Brandon Bailey
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