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Mortgage Market Update
Kiro Habib
Kiro Habib
Tuesday, November 3, 2026
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Which mortgage type is right for you? |
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Hi there. This week I want to cover something that often gets overlooked when homeowners think about refinancing or buyers start shopping.
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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 home or thinking about your current loan, the interest rate gets most of the attention. But the type of mortgage you choose—fixed-rate versus adjustable, conventional versus government-backed—shapes your payment and your financial picture for years. Each program has different rules about down payments, credit requirements, and how your rate behaves over time. The right choice depends on your situation: how long you plan to stay, your risk tolerance, and what you can afford today and later. I'd be happy to walk through which programs make sense for your goals. Let's talk about which loan program fits your needs best.
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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 Kiro Habib team any time and we'll walk you through your options. |
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