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Mortgage Market Update
My Mortgage Company
Tom Rydberg
Tuesday, November 3, 2026
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Different loans, different tradeoffs |
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Not all mortgages are built the same. Here's why that matters for your next move.
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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
When you're ready to buy or refinance, the loan program you choose shapes your whole financial picture—not just your rate. Different programs come with different rules about down payments, credit needs, property types, and how long you're locked in. Some are built for first-time buyers. Others reward a larger down payment. A few let you skip the traditional appraisal. The right fit depends on your situation, not what worked for your neighbor. I'd rather spend 15 minutes understanding your goals than have you sign papers that don't align with your life. What matters most to you—flexibility, lower upfront costs, or building equity faster? Let's talk about which 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
Tom Rydberg
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