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Mortgage Market Update
My Mortgage Company
Michael Rodriguez
Tuesday, November 3, 2026
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The loan type you choose really does matter |
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One of the most important decisions in a mortgage isn't talked about nearly enough. It's the type of loan you get—and picking the right one can shape your entire homeownership experience.
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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
Picking the right loan type matters more than you think
Not all mortgages are built the same, and the one that works for your neighbor might not be the best fit for you. Some borrowers benefit from fixed rates that lock in predictability. Others have room in their finances to explore adjustable options if it lowers their starting payment. Government-backed programs like FHA, VA, and USDA loans open doors for buyers who don't have a large down payment or who meet specific eligibility criteria. Conventional loans offer their own advantages depending on your credit profile and situation. The right choice depends on your timeline, how long you plan to stay in the home, and what your cash flow looks like. That's why I always recommend sitting down to talk through your actual circumstances before you decide. No two situations are identical. Let's find out which loan program makes the most sense for where you are right now.
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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
Michael Rodriguez
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