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Mortgage Market Update
Tyler Bottermuller
Tyler Bottermuller
Tuesday, November 3, 2026
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Picking your loan type is as important as the rate |
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Hi there. One of the most common questions I get is about interest rates — and for good reason. But there's another decision that matters just as much, and it deserves real attention.
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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 Options
Why your loan type matters more than you think
Most people focus on interest rates when they're shopping for a mortgage, but the type of loan you choose affects your finances in ways that go way beyond the rate itself. Different programs come with different flexibility, different costs, and different long-term implications. Some loans let you build equity faster. Others give you breathing room if life changes. Some make sense if you're staying put; others work better if you might move or refinance down the road. The right choice depends on your timeline, your comfort level with payments, and what you're trying to accomplish with your home. I'd love to walk through your specific situation and explain which programs could actually work in your favor. Let's talk about which loan program makes the most sense for where you are 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 Tyler Bottermuller team any time and we'll walk you through your options. |
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