Mortgage Market Update

My Mortgage Company

Matt & Eliesha Cavanaugh

Friday, November 6, 2026

Picking the right loan type for you

Not sure what loan program is best for your situation? Here's why the type of mortgage you choose matters more than you might think.

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

What your loan type actually costs you

Not all mortgages are created equal. The type of loan you choose—fixed rate, adjustable rate, conventional, FHA, VA—shapes your monthly payment, how long you'll pay, and what flexibility you have down the road. Each program has real trade-offs. Understanding those trade-offs means you can pick what actually fits your situation instead of just taking what sounds cheapest today. If you've never sat down to compare what different loan types would really mean for your budget and your future, that's worth doing. I'm happy to walk through the options with you—no pressure, just clarity.

Let's talk through which loan program makes the most sense for you.

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

Matt & Eliesha Cavanaugh

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