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Mortgage Market Update
My Mortgage Company
Alicia Hyatt
Friday, November 6, 2026
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The loan type matters more than you think |
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Not all mortgages are built the same. Here's why that actually matters to you.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
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 home or thinking about your current loan, the type of mortgage you choose matters just as much as the interest rate. Fixed-rate loans keep your payment steady for the life of the loan—great peace of mind if you plan to stay put. Adjustable-rate options can start lower, which appeals to buyers who think they'll sell or refinance before rates adjust. Then there are programs designed for specific situations: lower down payments for first-time buyers, options for those with credit challenges, loans that let you build equity faster. The right fit depends on your timeline, how long you plan to own, and what kind of payment stability you need. I'd love to walk you through what actually makes sense for your situation—it's easier than you'd think, and it can make a real difference. Let's talk about which loan program fits your goals best.
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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
Alicia Hyatt
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