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Mortgage Market Update
My Mortgage Company
Ryan Zamudio
Friday, November 6, 2026
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Picking the right type of mortgage |
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Hi there. This week I want to clear up something that trips up a lot of borrowers—the difference between mortgage types and why it matters to 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
Not all mortgages work the same way
When you're shopping for a home or thinking about refinancing, the type of loan you choose matters just as much as the interest rate. Different programs have different rules about down payments, credit requirements, how long you have to repay, and what happens if rates rise. A fixed-rate loan locks in your payment for the life of the loan. An adjustable-rate mortgage might start lower but can change over time. Government-backed programs like FHA or VA loans have their own features and benefits. The right choice depends on your situation, how long you plan to stay in your home, and your comfort with different kinds of payments. I'd love to walk you through what each option actually means for your wallet and your peace of mind. Let's talk about which loan program makes sense for where you are right now.
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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
Ryan Zamudio
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