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Mortgage Market Update
My Mortgage Company
Tamara Kammo
Tuesday, November 3, 2026
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Your loan program might be different than you think |
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Hi there. I've been thinking about how often people compare mortgages without realizing they're not apples-to-apples.
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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
Why your neighbor's mortgage might not work for you
One of the biggest mistakes I see is assuming everyone should have the same type of loan. Your neighbor might have locked in a 15-year fixed rate that works for their situation, but that doesn't mean it's the right move for your goals, income, or timeline. Some people benefit from an adjustable rate in certain market conditions. Others need a longer loan term to keep payments manageable while they're building their career. The program that makes sense depends on your personal circumstances—how long you plan to stay in the home, your risk tolerance, and what payment works for your budget. That's why I always start conversations here: understanding what you actually need, not what sounds good in theory. Let's talk about which loan structure fits your situation best.
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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
Tamara Kammo
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