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Mortgage Market Update
My Mortgage Company
Jennifer Everhart
Tuesday, November 3, 2026
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Which loan type are you actually using? |
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Hi there. This week I want to clear up something I see borrowers overlook all the time—the actual structure of their loan.
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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 type matters more than you think
Most people focus on interest rates when shopping for a mortgage, but the type of loan you choose shapes your entire borrowing experience. A fixed-rate loan locks in stability; an adjustable-rate option might offer initial flexibility; government-backed programs can open doors for borrowers who don't fit traditional molds. Each program has different rules around down payments, credit requirements, and how much house you can actually afford. The right choice depends on your timeline, risk tolerance, and financial goals—not just what sounds cheapest today. I'd love to walk you through what each option means for your situation and which might be the best fit. 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
Jennifer Everhart
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