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Mortgage Market Update
My Mortgage Company
Christopher Larson - Realtor
Friday, November 6, 2026
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Picking the right mortgage program for you |
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Hello,
One of the most impactful decisions in the mortgage process often gets overlooked. Here's what you need to 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 Program Options
Why your loan type matters more than you think
When you're shopping for a mortgage, it's easy to get tunnel vision on interest rates. But the structure of your loan—the program itself—shapes your entire borrowing experience. A conventional loan works differently than an FHA or VA loan. A 15-year mortgage builds wealth faster but carries a higher payment than a 30-year. An adjustable-rate loan starts lower but changes over time. Each path has real trade-offs in cost, flexibility, and risk. The right choice depends on your timeline, how stable your income is, and whether you plan to stay in your home long-term. I always recommend taking time to understand what you're actually signing up for, not just the number you see on day one. Let's talk through which loan program aligns with your actual situation. Reach out if you'd like to explore which loan structure makes the most sense 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
Christopher Larson - Realtor
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