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Mortgage Market Update
My Mortgage Company
Omar Brito
Friday, November 6, 2026
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Your loan type shapes more than just the rate |
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One question I hear less often than I should: "What kind of mortgage should I get?" Most borrowers focus on rate alone. But the loan program itself matters just as much.
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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 loan type matters more than you think
Not all mortgages are created equal. The type of loan you choose affects not just your interest rate, but how your payments work, when you build equity fastest, and what flexibility you have down the road. A fixed-rate loan keeps your payment stable forever. An adjustable-rate loan might start lower but can change. Government-backed loans like FHA or VA have different rules than conventional mortgages. Each one solves a different problem depending on your timeline and comfort level. Understanding which program fits your life—not just the lowest rate—is what separates a good decision from one you'll question later. Let's talk through which loan type makes 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 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
Omar Brito
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