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Mortgage Market Update
My Mortgage Company
All Western Mortgage
Friday, November 6, 2026
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Your mortgage might have a feature you don't know about |
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I talk to homeowners every week who realize their loan is more flexible than they thought. Here's what you should know.
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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 surprises I see is borrowers who don't realize their loan has options built in. Some mortgages let you pay down principal faster without penalty. Others come with flexibility to adjust terms later. A few have features that actually work in your favor when life changes. The program you choose at closing shapes what's possible down the road — whether you want to prepay, refinance, or access your equity. Before you commit, it's worth understanding what you're signing up for and how it fits your actual life, not just your monthly payment. Let's walk through what your loan can really do for you.
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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
All Western Mortgage
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