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Mortgage Market Update
My Mortgage Company
Jill McCain
Friday, November 6, 2026
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Why your neighbor's deal might not be yours |
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I talk to a lot of homeowners who compare notes with friends and family about rates and terms. But loan programs aren't one-size-fits-all, and I want to explain why.
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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 rate might not work for you
You might hear someone brag about the rate they locked in, but here's the thing: their loan probably looks different from yours. Loan programs vary based on your down payment, credit profile, property type, occupancy, and what you're trying to accomplish. A program that's perfect for a cash-out refinance doesn't work the same way for a purchase. Someone buying an investment property faces different options than a primary residence buyer. Rather than chasing what worked for someone else, I'd rather make sure you're in the program that actually fits your situation. That's where you get real value—not just a good rate, but the right fit. Let's talk about what makes sense for you. I'm happy to walk through the programs available for your specific scenario.
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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
Jill McCain
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