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Mortgage Market Update
My Mortgage Company
Hudson Property Solutions Powered By Highland Mortgage
Friday, November 6, 2026
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Different loans work in different ways |
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Hi there. This week I want to clear up something that often gets overlooked when people are focused on rates.
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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
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 the type of loan you choose matters just as much. Fixed-rate mortgages, adjustable-rate mortgages, FHA loans, conventional loans — they all have different rules, costs, and long-term effects on your wallet. Some make sense if you're staying put for decades. Others work better if you plan to move or refinance down the road. The right choice depends on your timeline, your comfort with risk, and what you can actually afford. I'd be happy to walk you through how each one works and which might be the best fit for where you are right now. Get in touch if you'd like to talk through which loan program makes 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
Hudson Property Solutions Powered By Highland Mortgage
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