Mortgage Market Update

My Mortgage Company

One Stop Financial Group

Friday, November 6, 2026

Your loan type might be working against you

Hello, I get asked a lot about rates and payments, but there's something earlier in the process that matters just as much: the loan program itself.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Loan Programs

What your loan type actually costs you

Most people know they have a mortgage, but fewer understand how their specific loan program shapes what they pay over time. The type of loan you carry—whether it's conventional, FHA, VA, or another program—affects not just your interest rate, but also your insurance costs, flexibility, and long-term financial picture. If you've owned your home for a while, your loan program might be costing you more than necessary. If you're thinking about buying, understanding your options upfront can mean a real difference in affordability. The good news: you have more control here than you might think. A conversation about your current situation—or your plans—can uncover whether your loan program still makes sense.

Let's talk through what your loan is really costing you and whether a change makes sense.

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

One Stop Financial Group

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