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Mortgage Market Update
My Mortgage Company
Korosh Morsh's Account
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 talk about something that often gets overlooked when people are focused on rates.
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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, the interest rate gets all the attention. But the type of loan you choose matters just as much. Fixed-rate mortgages, adjustable-rate options, FHA loans, conventional financing—each one has different rules about how long your rate stays locked, what kind of down payment works, and how your payment behaves over time. The right choice depends on your situation: how long you plan to stay in your home, your comfort with payment changes, and what you qualify for. I've found that borrowers who understand their loan type make better decisions and feel more confident about their mortgage. Let's talk about which program might be the best fit for you. Reach out and we can walk through what each option means for your specific 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
Korosh Morsh's Account
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