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Mortgage Market Update
My Mortgage Company
Partners In Mortgage
Friday, November 6, 2026
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Your loan type might be worth a second look |
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Not all mortgages are created equal, and the one you have might not be the best fit anymore. Here's what you should know.
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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
When a different loan type might work better
Most borrowers stick with the loan program they started with—but life changes. If you bought with an adjustable rate years ago, a fixed rate might give you peace of mind now. Started with a jumbo loan and your home's value has climbed? You might qualify for a conventional program with better terms. Or maybe you took out a longer loan to keep payments low, but now you want to build equity faster. The right loan program depends on where you are today, not where you were at closing. I see this happen a lot: people assume they're locked in, but there are usually options worth exploring. If you're curious whether your current setup still fits your life, let's talk through it. Reach out anytime—I'm happy to review what might work better for you now.
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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
Partners In Mortgage
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