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Friday, November 6, 2026 |
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Mortgage Market Update
Picking the right loan type matters
Hi there. Each week I share what's on my mind about mortgages, money, and homeownership. This week: how the type of loan you choose affects your bottom line.
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National Mortgage Rates · November 5, 2026
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Conventional 30-Year
6.93%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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
The mortgage you choose shapes how you pay for years to come. Some borrowers do better with a fixed rate that never changes. Others benefit from adjustable options early on. Then there are programs designed for specific situations—like if you're putting down less than 20%, or if you're a first-time buyer, or if you have an older home. The right fit depends on your timeline, risk comfort, and financial goals. I've seen people save real money just by matching their loan type to their actual plan. If you're not sure whether your current loan is the best one for you, or if you're thinking about buying soon, it's worth an honest conversation. I'm happy to walk through what's available and what makes 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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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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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 Jake Kornberg team any time and we'll walk you through your options.
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5060 Baker Rd Minnetonka, MN. 55345
612-396-0227
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