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Mortgage Market Update
My Mortgage Company
Elias Espejo
Tuesday, November 3, 2026
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Which mortgage program fits your plan? |
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Every borrower's situation is different, and so are the solutions that work best. This week, I want to break down how choosing the right loan program can make a real difference in your financial picture.
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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 Program Fit
Picking the right loan program for your goals
There's more than one way to finance a home, and the program that works best depends on what matters most to you right now. Some borrowers prioritize a lower monthly payment; others want to build equity faster or avoid paying interest over time. Fixed-rate mortgages offer predictability. Adjustable programs may start lower but can change. Government-backed loans have different requirements and benefits than conventional options. The program that's right for your neighbor might not be right for you—and that's okay. What works is matching the loan structure to your actual priorities, timeline, and situation. I'd be happy to walk you through how each option plays out in your case so you can make a confident choice. Let's talk about which program aligns best with where you're headed.
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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
Elias Espejo
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