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Mortgage Market Update
My Mortgage Company
Christos Peter
Friday, November 6, 2026
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Which loan type is right for you? |
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Hi there. This week I want to cover something that often gets overlooked when people focus on rate shopping—the actual structure of your loan.
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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 mortgage—whether you're buying or refinancing—the interest rate gets most of the attention. But the type of loan you choose matters just as much. Fixed-rate mortgages lock in your payment for the life of the loan. Adjustable-rate options start lower but can change over time. Some programs are built for first-time buyers, others reward those with substantial equity. Understanding which loan structure fits your situation, timeline, and comfort level can be the difference between a mortgage that works for you and one that creates stress down the road. I'd love to walk you through what's available and which programs might make sense for your goals. Let's talk through your loan options and find the right fit.
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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
Christos Peter
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