Mortgage Market Update

My Mortgage Company

Austin Waters

Friday, November 6, 2026

Your neighbor's loan won't solve your problem

There's a lot of mortgage talk happening around the neighborhood and the office. But not all of it applies to you.

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

Why your neighbor's mortgage might not be your best fit

One of the biggest mistakes I see is borrowers choosing a loan program based on what worked for someone else—a friend, a family member, even a coworker. But here's the thing: your financial situation, timeline, and goals are unique. A 15-year fixed might be perfect for one person and completely wrong for another. The same goes for adjustable-rate loans, jumbo products, and specialty programs. What matters is matching the right loan structure to your circumstances: how long you plan to stay in the home, how much monthly payment flexibility you need, whether rates are rising or falling. I'm here to walk through your actual situation and show you which program makes sense—not which one sounds good in conversation.

Let's talk through what's right 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

Austin Waters

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