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Mortgage Market Update
Taylor Lacy
Taylor Lacy
Friday, November 6, 2026
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What down payment do you actually need? |
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There's a lot of noise out there about how much money you need to buy a home or refinance. I want to cut through that and show you what's real 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
What your down payment options actually are
I talk to a lot of people who think they need to save a specific amount before they can buy, or that they're stuck with their current loan type. The truth is more flexible. Depending on your situation—your credit, your income, what you're buying—you may have more paths forward than you realize. Some programs let you put down less than conventional wisdom suggests. Others make sense if you're refinancing into a better fit for where you are now. The key is understanding what's available to you, not what you think should be available. That's where a real conversation helps. Let's talk through what loan programs might work for your specific situation.
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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 Taylor Lacy team any time and we'll walk you through your options. |
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