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Mortgage Market Update
Elijah Bernhardt
Elijah Bernhardt
Friday, November 6, 2026
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Your mortgage doesn't have to look like theirs |
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Every homeowner's situation is different—and that's reflected in the loans we put together. This week, a reminder that comparing notes with friends can be interesting, but your loan should be built for you.
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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 mortgage might not be right for you
When friends or family talk about their mortgages, it's natural to wonder if you're on the right program. But here's the thing: the best loan depends on your goals, how long you plan to stay in your home, how much you can put down, and what payment fits your budget. A 30-year fixed rate works beautifully for some people. For others, a different structure makes more sense. There's no one-size-fits-all answer, which is exactly why it's worth having a conversation about your specific situation. I'm here to walk through the options and help you understand which program actually serves you best. Let's talk through what makes sense for your circumstances.
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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 Elijah Bernhardt team any time and we'll walk you through your options. |
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