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Mortgage Market Update
My Mortgage Company
Joshua Morales
Tuesday, November 3, 2026
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Loan programs: which one fits your life? |
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Sometimes the best mortgage decision isn't about rates at all—it's about picking the right kind of loan. Here's what homeowners should know.
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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 neighbor's mortgage might look nothing like yours
Not all mortgages are created equal—and that's actually good news for you. Depending on your situation, you might qualify for a loan program that makes more sense than the standard 30-year fixed. Some borrowers benefit from shorter terms. Others qualify for programs designed for first-time buyers, rural properties, or those with unique credit histories. The program you choose affects your rate, your monthly payment, and how fast you build equity. The catch: you have to know what's available. I see borrowers all the time who didn't realize they had options that could have saved them money or stress. Let's talk about what might work best for your specific situation. Reach out anytime—I'd like to review which loan program might be the right fit 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
Joshua Morales
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