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Mortgage Market Update
My Mortgage Company
Amy Gargala
Tuesday, November 3, 2026
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The mortgage type matters more than you think |
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There's more to picking a mortgage than rate shopping. Understanding your options helps you make a choice that actually fits your life.
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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 work the same way
When you're shopping for a mortgage, it's easy to think you're just choosing between a few interest rates. But the real differences live deeper—in how your loan is structured. Some programs lock your rate for the full term. Others let it adjust. Some require a larger down payment; others don't. Some have flexibility built in; others are more straightforward. The right choice depends on your timeline, how long you plan to stay in your home, and how comfortable you are with change. That's why it matters to talk through what's actually available to you, not just what looks cheapest on day one. Let's walk through which loan structure makes the most sense 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
Amy Gargala
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