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Mortgage Market Update
My Mortgage Company
Derek Vail
Friday, November 6, 2026
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Loan programs aren't one-size-fits-all |
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Every borrower's situation is different—and so should your loan strategy. Here's why picking the right program matters more than you might think.
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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 loan might not work for you
When rates move or life changes, it's easy to assume everyone should take the same path. But mortgage lending doesn't work that way. The loan program that makes sense depends on your timeline, how much you've saved, your credit profile, and what you're trying to accomplish. A program perfect for someone paying cash toward a down payment might create problems for someone with existing equity. And what works for a 30-year hold might not fit someone who plans to move in five years. The good news: there are real options, and picking the right one can save you money and stress over time. I'd love to walk through what actually makes sense for your situation. Let's talk about which loan program fits 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 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
Derek Vail
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