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Mortgage Market Update
Swift Mortgage
Swift Mortgage
Friday, November 6, 2026
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Which loan type fits your situation |
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Hi there. This week I want to talk about something that shapes your entire mortgage experience but often gets overlooked: choosing the right loan program for your needs.
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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
Not all mortgages work the same way
One of the biggest decisions in a mortgage isn't talked about enough: which loan type actually fits your situation. A fixed-rate loan, an adjustable-rate option, a government-backed program—they all have different strengths depending on whether you're planning to stay put for decades or move in a few years, whether your income is steady or variable, or what your down payment looks like. The right choice can mean real savings over time, while the wrong one might create unnecessary stress. I work with borrowers every week who realize halfway through that another program would have been better. That's why I like to walk through your plans first—not just your credit score or down payment, but your life. Let's talk about which loan makes sense for you. Reach out and we can explore which program aligns best with 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 Swift Mortgage team any time and we'll walk you through your options. |
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