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Mortgage Market Update
My Mortgage Company
Shawn Howard
Friday, November 6, 2026
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Not all mortgages are created equal |
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Every borrower's situation is different—and that's why mortgage programs come in so many varieties. The right choice depends on what you need, not what worked for someone else.
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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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Loan Programs
Why your neighbor's mortgage might not work for you
There's no one-size-fits-all mortgage. A loan program that's perfect for someone buying their first home looks completely different from one for someone with an investment property or a nontraditional income. The best program for you depends on your down payment, credit history, work situation, and long-term plans. What matters is finding the one that actually fits your life, not just picking whatever your friend used. I'd love to walk you through the options and show you which programs are really available to you. Let's find the right fit together. Reach out and we can talk through which loan programs make the most sense for 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
Shawn Howard
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