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Mortgage Market Update
My Mortgage Company
Jesse Griffith
Tuesday, November 3, 2026
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What your loan type really means |
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Hi there—this week I want to talk about something that doesn't get enough attention when you're shopping for a 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
Not all mortgages work the same way
One of the biggest surprises I see is borrowers who don't realize their loan type shapes how their money works over time. A fixed-rate mortgage keeps your payment steady no matter what happens with market rates—that predictability is huge for budgeting. Other programs have different rules about how interest, principal, and time interact. The program you choose early on affects your flexibility later, whether you're thinking about selling, refinancing, or just staying put. Getting this right at the start saves frustration and money down the line. I'd love to walk you through what's available and what actually fits your situation. Reach out and we can talk through which loan structure makes sense for your goals.
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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
Jesse Griffith
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