Mortgage Market Update

My Mortgage Company

Fully Scale

Tuesday, November 3, 2026

Your current loan program isn't your only choice

Hi there. This week I want to look at something that catches a lot of homeowners off guard—the fact that you're not locked into the loan program you started with.

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

The loan program you chose might not be your only option

When you first bought or refinanced, you picked a loan program—maybe a 30-year fixed, an ARM, or an FHA loan. But circumstances change. Interest rates move. Your financial picture evolves. What made sense two years ago might not be your best fit today.

Switching programs through a refinance isn't just about chasing lower rates. You might shorten your loan term to build equity faster, move from an adjustable rate to a fixed one for peace of mind, or tap a program designed for your current situation. The key is understanding what's available and whether the move pencils out for your goals.

If you're curious whether a different program could work better for you, I'd like to take a look at your loan and run through the options. No obligation—just a conversation.

Let's talk through what loan programs might fit your situation.

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

Fully Scale

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