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Mortgage Market Update
Melissa Carbonell
Melissa Carbonell
Friday, November 6, 2026
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Picking the right mortgage type for you |
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Hi there. I've noticed a lot of folks don't realize how much their choice of loan program shapes their monthly payment and long-term costs.
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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
Which mortgage type actually fits your life?
Not all mortgages are built the same, and the right one for you depends on your plans, risk tolerance, and how long you see yourself in your home. Fixed-rate loans lock in stability—your payment never changes, which makes budgeting straightforward. Adjustable-rate mortgages can start lower but shift over time, which works well if you're planning to sell or refinance before the adjustment kicks in. Then there are specialized programs designed for first-time buyers, rural properties, or lower down payments. The wrong choice can cost you thousands; the right one gives you peace of mind. I'd love to walk you through what's available for your specific situation. Let's find the loan type that matches your goals—reach out anytime.
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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 Melissa Carbonell team any time and we'll walk you through your options. |
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