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Mortgage Market Update
My Mortgage Company
Lexi Blackwell
Tuesday, November 3, 2026
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Which type of loan are you in? |
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Hi there — this week I want to talk about something that doesn't get enough attention when people are comparing mortgages. The type of loan you choose matters just as much as the rate itself.
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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
Why your loan program 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 shapes your entire borrowing experience. Different programs offer different flexibility, different costs upfront, and different ways to build equity over time. Whether you're a first-time buyer, refinancing an existing mortgage, or looking to tap into your home's value, the right program can be the difference between a loan that works for you and one that creates stress down the road. I'd love to walk you through what's available and help you understand which options actually fit your situation. Let's talk about which loan program makes sense for you.
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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
Lexi Blackwell
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