Mortgage Market Update

My Mortgage Company

Capital Mortgage Source

Tuesday, November 3, 2026

Picking the right loan type matters more than you think

Every mortgage is not created equal. The program you choose affects far more than just your rate.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Loan Program Basics

Which loan type actually makes sense for you?

There's no one-size-fits-all mortgage. Whether you're a first-time buyer or a repeat homeowner, the loan program you choose—fixed-rate, adjustable, FHA, conventional, and others—shapes your monthly payment, long-term costs, and flexibility. Each has real tradeoffs. Some offer lower initial payments; others give you payment certainty for decades. Your timeline, credit profile, down payment, and comfort with risk all play a role in what works. The right fit depends on your actual situation, not what your neighbor chose. That's why it's worth a real conversation about which program aligns with how you plan to live in your home.

If you're curious which loan type suits your goals, reach out and we can walk through your options together.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Capital Mortgage Source

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