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Mortgage Market Update
My Mortgage Company
Elizabeth Gibson
Tuesday, November 3, 2026
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Picking the right loan type matters |
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Hello—this week I want to touch on something that doesn't always get the attention it deserves: choosing the right kind of mortgage for your life.
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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
Finding the right loan type for your situation
Not all mortgages work the same way, and what's right for one borrower might not fit another. Some people do better with a fixed rate that stays the same for the life of the loan. Others benefit from adjustable programs, especially if they plan to move or refinance down the road. Then there are specialized options designed for specific situations—whether you're a first-time buyer, putting down a smaller down payment, or have a unique financial picture. The key is matching the loan structure to your actual plans and comfort level, not just chasing the lowest number on a rate sheet. I'd love to walk you through what's available and help you see which option makes the most sense for where you are now. Let's talk about which loan program fits your goals.
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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
Elizabeth Gibson
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