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Mortgage Market Update
My Mortgage Company
Collin Clifford
Tuesday, November 3, 2026
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Picking the right mortgage type for you |
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Hi there. This week I want to talk about something that shapes your whole borrowing experience — and it's not always top of mind when you're shopping for a home.
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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 decisions you'll make isn't about rates or timing — it's about which loan program actually fits your life. A conventional loan works differently than an FHA or VA loan. An adjustable-rate mortgage behaves differently than a fixed-rate one. Some programs let you put less money down. Others require more but offer different protections. Some programs work well if you plan to stay in your home for decades; others make sense if you're thinking shorter-term. The right choice depends on your situation: how long you'll stay, how much you can put down, what your credit looks like, and what kind of payment stability matters to you. I'd be happy to walk you through the options that actually apply to you. Let me help you figure out which loan program makes the most 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
Collin Clifford
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