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Mortgage Market Update
Cory Williams
Cory Williams
Friday, November 6, 2026
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The loan term choice that changes everything |
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Hi there. This week I want to talk about something that doesn't always get the spotlight, but absolutely should.
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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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Mortgage Basics
Why your loan term matters more than you think
When you're shopping for a mortgage, the interest rate grabs all the attention—but your loan term is just as important. The length of your loan affects not just your monthly payment, but how much interest you'll pay over time and how quickly you build equity in your home. Different terms work for different situations, and there's no one-size-fits-all answer. Some borrowers prioritize lower monthly payments; others want to pay off their home faster. Understanding how term choice aligns with your goals and timeline is one of the smartest moves you can make before locking in a loan. I'd love to walk you through how different terms could look in your situation. Let's talk about which loan term makes sense for your goals.
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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 Cory Williams team any time and we'll walk you through your options. |
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