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Mortgage Market Update
My Mortgage Company
One Stop Financial Group
Tuesday, November 3, 2026
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Your loan type might be working against you |
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Hello,
I get asked a lot about rates and payments, but there's something earlier in the process that matters just as much: the loan program itself.
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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
What your loan type actually costs you
Most people know they have a mortgage, but fewer understand how their specific loan program shapes what they pay over time. The type of loan you carry—whether it's conventional, FHA, VA, or another program—affects not just your interest rate, but also your insurance costs, flexibility, and long-term financial picture. If you've owned your home for a while, your loan program might be costing you more than necessary. If you're thinking about buying, understanding your options upfront can mean a real difference in affordability. The good news: you have more control here than you might think. A conversation about your current situation—or your plans—can uncover whether your loan program still makes sense. Let's talk through what your loan is really costing you and whether a change makes sense.
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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
One Stop Financial Group
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