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Mortgage Market Update
My Mortgage Company
Kirk Alvarez
Friday, November 6, 2026
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The loan type matters more than you think |
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There's a lot of mortgage information out there, and it's easy to get lost in the details. This week, I want to clear up something fundamental.
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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 Program Guide
Not all mortgages work the same way
When you're shopping for a mortgage or thinking about your current loan, the type of loan you choose matters as much as the rate itself. Fixed-rate mortgages lock in your payment for the life of the loan—predictable and stable. Adjustable-rate mortgages start lower but can move over time. Government-backed loans like FHA and VA have different qualification rules and benefits. Conventional loans work differently again. The right choice depends on your timeline, risk comfort, and financial situation. I'm happy to walk you through how each option might work for your specific goals. Let's talk about which loan program makes sense for where you are today.
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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
Kirk Alvarez
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