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Mortgage Market Update
My Mortgage Company
Elizabeth Cassidy
Friday, November 6, 2026
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Picking the right loan type for your life |
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Most borrowers know rates matter, but the type of loan you choose matters just as much. Let me explain what your options really mean.
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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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Mortgage Basics
Why your loan type matters more than you think
Not all mortgages work the same way, and the loan program you choose shapes your financial picture for years. Some options lock in your rate for the full term; others start lower but adjust over time. Some let you put down less upfront; others reward larger down payments with better terms. The right choice depends on your timeline, risk tolerance, and how long you plan to stay in your home. I've seen borrowers save real money—and sleep better at night—simply by understanding which program actually fits their situation instead of just picking the most common one. If you've never talked through your options, or if you're curious whether your current loan is still the best fit, I'd love to walk you through what's available to you. Reach out if you'd like to explore which loan program 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
Elizabeth Cassidy
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