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Mortgage Market Update
CHRIS MILLER
Chris Miller
Tuesday, November 3, 2026
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Does your loan type still fit your situation? |
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Most homeowners don't think much about their loan program—until something changes. This week, I want to help you understand why the type of mortgage matters.
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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 mistakes I see is borrowers choosing a loan program without understanding how it actually works for their situation. A fixed-rate mortgage behaves differently than an adjustable one. An FHA loan has different rules than a conventional loan. An ARM might lower your starting payment, but the mechanics of how it adjusts are nothing like a fixed rate. The right program depends on your timeline, risk comfort, and plans for the home. If you're shopping around or thinking about your current mortgage, it's worth a real conversation about whether your loan type still makes sense for where you are now. I'm here to walk through the options with you. 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 CHRIS MILLER team any time and we'll walk you through your options. |
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