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Mortgage Market Update
My Mortgage Company
Justin Hill
Friday, November 6, 2026
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Your mortgage might not be your only option |
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One of the most common misconceptions I hear is that once you close on a loan, your choices are locked in forever. That's not always true.
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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 Fit
Locked in a 30-year? Your options might surprise you.
A lot of homeowners assume they're stuck with whatever mortgage they took out years ago. The truth is, if your situation has changed—your income is steadier, your credit has improved, or rates have moved—you might qualify for a different loan program that works better for you now. Some borrowers find they can move to a shorter timeline. Others discover they have more flexibility than they thought. The only way to know what's actually available to you is to have a real conversation about where you stand today. I'd be happy to walk through your options without any pressure or obligation. Let's talk about what programs make sense for your current 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 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
Justin Hill
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