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Mortgage Market Update
My Mortgage Company
Nick Mastropietro
Tuesday, November 3, 2026
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Understanding your loan options |
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There's a lot of choice when it comes to mortgages, and that can feel overwhelming. Here's what you should know about how different loan types work.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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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
What your loan type means for your money
When you're shopping for a mortgage or thinking about refinancing, the loan program you choose affects more than just your interest rate—it shapes your entire financial picture. Different programs come with different rules about down payments, credit requirements, how long you have to pay back the loan, and whether your rate stays fixed or can adjust over time. Understanding what's available to you helps you pick the option that actually fits your life, not just the one that sounds cheapest right now. If you're curious about what programs might work for your situation, I'd be happy to walk through the real trade-offs with you. Let's talk about which loan program makes sense for where you are right now.
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Tip of the Week
Refinancing resets your amortization clock. If you're 10 years into a 30-year loan, consider a shorter term to avoid paying more total interest.
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Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
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1.
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Co-signing makes you equally responsible for the debt. If the primary borrower misses payments, your credit score takes the same hit and the lender can pursue you for the full balance.
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2.
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The co-signed mortgage debt appears on your credit report and counts toward your DTI. This can limit your ability to qualify for your own financing until the loan is paid off or refinanced out of your name.
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3.
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There's no automatic way to remove yourself as a co-signer — the primary borrower must refinance the loan in their name alone. Get this understanding in writing before you sign.
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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
Nick Mastropietro
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