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Mortgage Market Update
Swift Mortgage
Swift Mortgage
Tuesday, November 3, 2026
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Which loan type fits your situation |
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Hi there. This week I want to talk about something that shapes your entire mortgage experience but often gets overlooked: choosing the right loan program for your needs.
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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 in a mortgage isn't talked about enough: which loan type actually fits your situation. A fixed-rate loan, an adjustable-rate option, a government-backed program—they all have different strengths depending on whether you're planning to stay put for decades or move in a few years, whether your income is steady or variable, or what your down payment looks like. The right choice can mean real savings over time, while the wrong one might create unnecessary stress. I work with borrowers every week who realize halfway through that another program would have been better. That's why I like to walk through your plans first—not just your credit score or down payment, but your life. Let's talk about which loan makes sense for you. Reach out and we can explore which program aligns best with 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 Swift Mortgage team any time and we'll walk you through your options. |
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