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Mortgage Market Update
My Mortgage Company
Rich Hanlin
Tuesday, November 3, 2026
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Picking the right loan type for you |
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I work with borrowers every week who don't realize how many loan options are actually within reach. This week I want to demystify what's out there.
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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 are created equal
When you're ready to buy or refinance, the loan program you choose matters as much as the rate itself. Fixed-rate mortgages lock in predictability. Adjustable-rate loans may start lower but change over time. Government-backed programs like FHA or VA have different requirements and benefits than conventional loans. Some borrowers qualify for programs they've never heard of, simply because they haven't asked. The right fit depends on your timeline, risk tolerance, and financial situation—not on what worked for your neighbor. I'd love to walk you through what's available to you and why one option might make more sense than another for your specific goals. Reach out and let's talk about which loan program could work best for your situation.
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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
Rich Hanlin
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