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Mortgage Market Update
My Mortgage Company
Nicholas Smith
Friday, November 6, 2026
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Picking the right mortgage for you |
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Every borrower's situation is different, and so is the mortgage that makes sense for them. This week, let's look at how to match the loan type to your life.
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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
Which loan type fits your situation?
Not all mortgages work the same way, and the right one for you depends on your timeline, income stability, and how long you plan to stay in your home. A fixed-rate loan keeps your payment steady for decades. An adjustable-rate mortgage might start lower but can change over time. Government-backed programs like FHA or VA loans have their own rules and benefits. Some borrowers benefit from shorter loan terms; others need the breathing room of a longer one. The choice isn't about what's "best"—it's about what matches your life. I'd be happy to walk through the options and help you see which makes sense for where you are right now. Let's talk about which loan structure works best 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
Nicholas Smith
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