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Mortgage Market Update
My Mortgage Company
Kayleigh Williamson - For Deletion
Tuesday, November 3, 2026
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Your loan type shapes your whole mortgage story |
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Hi there. This week I want to walk you through something that often gets overlooked in the rush to close: choosing a loan program that actually makes sense for you, not just the one with the headline rate.
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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 Fit
Picking the right loan type matters more than you think
Not all mortgages work the same way, and the one that's right for your neighbor might not be right for you. Some loans offer flexibility if life changes; others lock in predictability from day one. Some work better if you plan to move in five years; others reward you for staying put. The right choice depends on your timeline, your comfort with payment changes, and what you're trying to accomplish with your home. I see borrowers make solid financial moves all the time—not because they found the lowest rate, but because they picked a loan structure that actually fit their life. It's worth spending time on this decision early on. Let's talk through which loan program aligns with your plans.
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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
Kayleigh Williamson - For Deletion
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