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Mortgage Market Update
My Mortgage Company
Sandra Johnson
Friday, November 6, 2026
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Picking the right mortgage type matters |
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Hi there. One of the biggest decisions in a mortgage isn't just the rate—it's the loan program itself.
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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
Not all mortgages work the same way
When you're shopping for a mortgage—whether you're buying or refinancing—the interest rate gets most of the attention. But the loan program you choose matters just as much. Fixed-rate mortgages lock in your rate for the life of the loan, so your payment stays the same. Adjustable-rate mortgages start lower but can change over time. Some programs let you put down less money upfront. Others are built for specific situations, like VA loans or FHA loans for first-time buyers. The right program depends on your timeline, comfort level with risk, and long-term plans for the home. I'd love to walk you through which programs might make sense for your situation. Let's talk about which loan program fits your goals.
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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
Sandra Johnson
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