Mortgage Market Update

My Mortgage Company

Gavin Guthrie

Tuesday, November 3, 2026

Picking the right loan type for you

Not all mortgages are created equal. Today I want to walk you through why the loan program you choose matters.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Loan Programs

Your loan type matters more than you think

When you're shopping for a mortgage or thinking about refinancing, it's easy to focus only on the interest rate. But the type of loan you choose—fixed, adjustable, conventional, FHA, VA, or USDA—shapes your entire financial picture. Each program has different rules about down payments, credit requirements, closing costs, and how your payment behaves over time. The right choice for your neighbor might not be the right choice for you. That's why I always spend time understanding your situation before recommending a path forward. If you're curious whether the loan you have now is still the best fit, or if you're exploring options for a new purchase, let's talk through what's actually available to you.

Reach out if you'd like to explore which loan program makes sense for your goals.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Gavin Guthrie

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