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Mortgage Market Update
My Mortgage Company
Amy Gargala
Tuesday, November 3, 2026
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Not all mortgages fit the same person |
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One of the things I love about this job is helping borrowers find the mortgage structure that actually works for them—not just any mortgage.
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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 be your mortgage
Not all mortgages are created equal—and that's actually good news for you. Different loan programs exist because different people have different situations. A first-time buyer with a smaller down payment might benefit from a program that doesn't work for someone with substantial equity. Self-employed borrowers have options that W-2 employees might not need. The right program for you depends on your timeline, how long you plan to stay in your home, your down payment, and your financial picture. I've helped borrowers realize they were in the wrong program when a quick conversation revealed a better fit. That conversation often pays for itself many times over. Let's talk about which programs actually make 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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