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Mortgage Market Update
My Mortgage Company
Jonathan Capellen
Friday, November 6, 2026
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Mortgage options you might not have considered |
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One of the biggest decisions isn't always the most obvious one. Let me break down why the type of loan you choose matters just as much as the rate.
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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
Understanding your loan options beyond the standard 30-year
When you're shopping for a mortgage, it's easy to focus only on the interest rate—but the loan program you choose shapes your entire borrowing experience. Beyond the conventional 30-year fixed, there are shorter terms, adjustable options, and specialized programs designed for different financial situations. A 15-year mortgage builds equity faster. An adjustable-rate loan might offer lower initial payments. First-time buyer programs can reduce down payment requirements. The right choice depends on how long you plan to stay in your home, your comfort with payment fluctuations, and your broader financial goals. I'd be happy to walk you through which options align with your situation. Let's talk through which loan structure makes the most sense for you.
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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
Jonathan Capellen
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