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Mortgage Market Update
My Mortgage Company
Nick Mastropietro
Tuesday, November 3, 2026
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Your loan type matters more than you think |
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I talk to homeowners who've never really understood the difference between their loan options—and sometimes discover they could have done better. Here's why that conversation is worth having.
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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 Program Updates
What your loan type actually costs you
A lot of borrowers don't realize how much their loan choice affects what they pay over time. The program you pick—whether it's a conventional loan, FHA, VA, or something else—shapes your interest rate, what fees you'll see, and how much flexibility you have down the road. It's not just about getting approved; it's about which program makes sense for your specific situation and goals. If you're not sure whether you're in the right loan, or if you're curious whether a different program might work better for you now, that's worth a conversation. I can walk you through how each option stacks up for your numbers. Let's talk about whether your current loan is still the best fit for you.
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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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