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Mortgage Market Update
My Mortgage Company
Christopher Larson
Tuesday, November 3, 2026
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Loan types and why the choice matters |
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Every mortgage isn't built the same way, and that's actually a good thing. Here's why picking the right type makes a real difference.
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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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Mortgage Basics
Why your loan type matters more than you think
Not all mortgages work the same way, and the one that's right for someone else might not be right for you. Fixed-rate loans lock in your payment for the life of the loan—predictable and steady. Adjustable-rate mortgages start lower but can change over time. Some loans are built for people planning to move or refinance; others reward you for staying put. Your financial situation, timeline, and comfort level with risk should all shape which path makes sense. The good news is that understanding these differences helps you make a decision that actually fits your life, not just what sounds cheapest on day one. I'd love to walk you through your options and help you see which type aligns with your goals. Let's talk about which loan structure works best 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
Christopher Larson
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