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Mortgage Market Update
My Mortgage Company
Hector Lopez
Tuesday, November 3, 2026
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Your loan program choice matters more than you think |
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Hi there. Every week I see borrowers making decisions based on incomplete information. This week I want to clear up something fundamental about how mortgages actually work.
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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 your loan type actually costs you
Not all mortgages are built the same, and the loan program you choose affects more than just your interest rate. Different programs come with different flexibility, different costs upfront, and different rules about what you can do with your home down the road. Some borrowers benefit from programs designed for first-time buyers. Others have options around how much they put down or how they structure their payments. The catch: the "best" program for you depends entirely on your situation, your timeline, and what matters most to you financially. That's why it's worth having a real conversation about which program actually fits, rather than just accepting the first option you hear about. I'd love to walk you through what's available and what each one means for your wallet. Let's talk through which loan program 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
Hector Lopez
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