Mortgage Market Update

My Mortgage Company

Michael Rodriguez

Friday, November 6, 2026

Your mortgage doesn't have to match theirs

You hear friends and family talk about their mortgages all the time. Here's what matters: comparing loans without context can be misleading.

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

Why your neighbor's mortgage deal might not work for you

Everyone's situation is different, and that's especially true with mortgages. Your coworker might be thriving on a 15-year loan while a similar option would stretch you thin. Or you might qualify for a program that someone else doesn't. The loan type, term length, and features that make sense depend on your income, goals, down payment, and how long you plan to stay in your home. That's why I never recommend a mortgage based on what worked for someone else—I build one around your actual life. If you're curious about what programs you might qualify for, or whether your current loan is still the right fit, I'd love to walk through your options.

Let's talk about which loan program aligns with your situation.

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

Michael Rodriguez

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