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Mortgage Market Update
My Mortgage Company
Kristen Hordyk
Friday, November 6, 2026
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Picking the right loan type for your situation |
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Hey there—this week I want to talk about something that often gets overlooked when borrowers are hunting for rates. Your loan program choice can matter just as much as the rate itself.
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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
Not all mortgages work the same way, and the program you choose shapes your entire borrowing experience. Some loans offer flexibility; others lock in certainty from day one. Some make sense if you're staying put for decades; others work better if your life might change. The right fit depends on your timeline, risk tolerance, and financial goals—not just on finding the lowest rate this week. I've seen borrowers choose a program that looked good on paper, only to realize later it didn't match their actual situation. That's why it's worth having a real conversation about what you're trying to accomplish, not just which box to check. If you've never explored how different loan structures could work for you, now's a good time to talk it through. Let's discuss which loan program aligns best with 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
Kristen Hordyk
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