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Mortgage Market Update
My Mortgage Company
Ryan Winter
Tuesday, November 3, 2026
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Picking the right type of mortgage |
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Hi there. This week I want to walk you through something that doesn't get talked about enough: not all mortgages are built the same, and that matters.
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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
Not all mortgages work the same way
When you're shopping for a mortgage or thinking about refinancing, you have real options—and they work differently. Some loans let you lock in a rate for the full life of the loan. Others start lower but adjust over time. Some require a down payment; others don't. Some programs are built specifically for first-time buyers or for people with less-than-perfect credit. The right choice depends on your timeline, your comfort with payment changes, and what makes sense for your life right now. It's worth understanding what's actually available to you instead of assuming there's only one path forward. Let's talk about which loan program might be the best fit for your situation.
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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
Ryan Winter
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