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Mortgage Market Update
My Mortgage Company
Blue Collar Mortgage
Friday, November 6, 2026
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Your mortgage program matters more than you think |
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There's more to choosing a mortgage than rate shopping. This week, let's look at why the loan program itself deserves your attention.
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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 are built the same
When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the loan program itself—the rules, flexibility, and features—can matter just as much to your financial picture. Some programs offer lower rates but less flexibility if life changes. Others let you pay extra toward principal without penalty, or give you options down the road. The right fit depends on your timeline, risk tolerance, and plans for the home. I've seen borrowers make great moves by choosing a program that aligned with their real situation, not just chasing the lowest number. It's worth understanding what you're actually signing up for. Let's talk through which program might work best for 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
Blue Collar Mortgage
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