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Mortgage Market Update
My Mortgage Company
Tamara Kammo
Friday, November 6, 2026
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Your loan program might be different than you think |
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Hi there. I've been thinking about how often people compare mortgages without realizing they're not apples-to-apples.
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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
Why your neighbor's mortgage might not work for you
One of the biggest mistakes I see is assuming everyone should have the same type of loan. Your neighbor might have locked in a 15-year fixed rate that works for their situation, but that doesn't mean it's the right move for your goals, income, or timeline. Some people benefit from an adjustable rate in certain market conditions. Others need a longer loan term to keep payments manageable while they're building their career. The program that makes sense depends on your personal circumstances—how long you plan to stay in the home, your risk tolerance, and what payment works for your budget. That's why I always start conversations here: understanding what you actually need, not what sounds good in theory. Let's talk about which loan structure fits your situation 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
Tamara Kammo
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