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Mortgage Market Update
Tyler Bottermuller
Tyler Bottermuller
Friday, November 6, 2026
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Picking your loan type is as important as the rate |
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Hi there. One of the most common questions I get is about interest rates — and for good reason. But there's another decision that matters just as much, and it deserves real attention.
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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 Program Options
Why your loan type matters more than you think
Most people focus on interest rates when they're shopping for a mortgage, but the type of loan you choose affects your finances in ways that go way beyond the rate itself. Different programs come with different flexibility, different costs, and different long-term implications. Some loans let you build equity faster. Others give you breathing room if life changes. Some make sense if you're staying put; others work better if you might move or refinance down the road. The right choice depends on your timeline, your comfort level with payments, and what you're trying to accomplish with your home. I'd love to walk through your specific situation and explain which programs could actually work in your favor. Let's talk about which loan program makes the most sense for where you are right 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 Tyler Bottermuller team any time and we'll walk you through your options. |
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