Mortgage Market Update

My Mortgage Company

Daniel Skagen | Barrett Financial Group

Friday, November 6, 2026

Which loan type is right for you

Every mortgage is different—and that's actually good news. The loan you choose can make a real difference in your costs and peace of mind.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Loan Programs

Not all mortgages work the same way

When you're shopping for a mortgage, you'll hear about fixed rates, adjustable rates, FHA loans, conventional loans, and more. Each one has different rules about how long your rate stays the same, what down payment you need, and how much you pay over time. The right choice depends on your situation—how long you plan to stay in the home, what you can put down, and how comfortable you are with change. I've seen borrowers save money by picking a loan program that actually fits their life, not just the one that sounds cheapest on day one. Let's talk about which options make sense for where you are.

Reach out and we can walk through what programs fit your timeline and budget.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.	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.

2.	Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Daniel Skagen | Barrett Financial Group

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