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Mortgage Market Update
My Mortgage Company
Joseph O'Connell
Tuesday, November 3, 2026
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Why your mortgage type matters more than you realize |
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Not all mortgages are created equal—and that matters a lot more than most people realize. Here's what you should know.
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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
One of the biggest surprises my clients run into is learning that the mortgage they chose years ago might not be the best fit today—or that they had other options they never knew existed. Fixed-rate loans, adjustable mortgages, FHA programs, conventional loans, portfolio products—each one works differently and serves different goals. What makes sense for someone building wealth over 30 years looks nothing like what works for someone who might move in five. The right loan program isn't about the lowest number on paper; it's about what actually aligns with your timeline, risk comfort, and financial picture. If you're curious whether your current mortgage is still working for you, or if you're exploring options before making a move, I'd love to walk through what's available. Let's talk about which loan program fits where you're headed.
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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
Joseph O'Connell
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