Mortgage Market Update

My Mortgage Company

Liz Rich — Elizabeth Rich

Friday, November 6, 2026

Which mortgage type fits your situation?

Hi there. I wanted to touch base this week about something that often gets overlooked when people are shopping for a home or thinking about refinancing.

National Mortgage Rates · November 5, 2026

Conventional 30-Year

7.18%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Loan Programs

Not all mortgages work the same way

I talk to a lot of people who think a mortgage is a mortgage—but the program you choose matters more than you might realize. Fixed-rate loans, adjustable options, FHA programs, conventional loans—they each have different rules about down payments, who qualifies, how rates work, and what flexibility you get down the road. The right choice depends on your situation: how long you plan to stay in the home, what you can put down, your credit picture, and your comfort level with different payment structures. Understanding your options means you're not just picking a loan—you're picking the one that actually fits your life. That's worth a conversation.

If you'd like to walk through what's available to you, I'm here to explain the differences.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.	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.

2.	Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Liz Rich — Elizabeth Rich

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