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Mortgage Market Update
My Mortgage Company
Lou Borrego's Account
Tuesday, November 3, 2026
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The loan program question nobody asks |
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Hi there. I get asked about rates all the time — and for good reason. But the type of mortgage you choose matters just as much.
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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 you'll make isn't just about the rate — it's about which loan program fits your life. Fixed-rate mortgages lock in your payment for the life of the loan, which gives you predictability. Adjustable-rate mortgages start lower but can change over time. There are also programs designed for first-time buyers, those with less-than-perfect credit, or borrowers who want to put down less upfront. The right choice depends on how long you plan to stay in your home, how comfortable you are with payment uncertainty, and what your financial picture looks like right now. I'd be happy to walk you through the options that make sense for your situation. Let's talk about which program might work best 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
Lou Borrego's Account
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