Mortgage Market Update

My Mortgage Company

Adrian Petersen

Friday, November 6, 2026

Your mortgage works differently than you think

Most borrowers don't fully understand their own loan until years in. Here's what you should know before you sign.

National Mortgage Rates · November 4, 2026

Conventional 30-Year

7.12%

FHA 30-Year

6.90%

VA 30-Year

6.76%

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.

Loan Programs

Not all mortgages work the same way

One of the biggest surprises I hear from borrowers is how differently their loan behaves compared to what they expected. Fixed-rate mortgages, adjustable rates, FHA loans, conventional programs—they each have their own rules about how much you can borrow, what your payment covers, and what happens over time. The right choice depends on your timeline, risk comfort, and financial picture. I've seen borrowers save money and stress by understanding their actual loan structure before signing, not after. If you've never dug into how your mortgage actually works, or you're shopping for one and want to know the real differences, I'm here to walk you through it.

Let's talk about which loan structure makes sense for your situation.

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.

Tips for Homeowners

Protecting Yourself from Mortgage Scams

1.	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.

2.	Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Adrian Petersen

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