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Mortgage Market Update
My Mortgage Company
Darryl Bowles
Tuesday, November 3, 2026
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What type of mortgage actually works for you |
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Some weeks I'm asked the same question five different ways. This week, I want to tackle something I hear often but deserve a real conversation.
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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
What loan type is actually best for your situation
There's no one-size-fits-all mortgage. Whether you're a first-time buyer, refinancing an existing loan, or planning to stay in your home for decades, the right loan program depends on your timeline, risk comfort, and financial goals. Some borrowers do better with stability and predictability; others benefit from flexibility. The conversations I have about this vary widely—and they should. Your neighbor's perfect loan might not work for you at all. Understanding your own priorities first makes choosing much clearer. If you've been wondering whether your current loan still serves you, or you're not sure what to look for in a new one, I'd like to walk through your options together. Let's talk about which loan program fits your life right now.
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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
Darryl Bowles
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