Mortgage Market Update

Scott Smith

Tuesday, November 3, 2026

Loan choice matters more than rate

Hi there—this week I want to talk about something that often gets overlooked in the rush to close. Your loan program is just as important as the numbers themselves.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Loan Programs

Why your loan choice matters more than you think

When you're in the thick of buying or refinancing, it's easy to focus only on the rate. But the loan program itself—whether it's a conventional loan, FHA, VA, or something else—shapes your whole borrowing experience. Different programs come with different rules around down payments, credit flexibility, and what happens after closing. The right fit for you depends on your situation: your savings, credit history, how long you plan to stay, and what you can afford month to month. Getting this choice right upfront saves you headaches and money down the road. I'd love to walk through which program aligns with your goals.

Reach out and we can talk through which loan type makes the most sense for where you are.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Scott Smith team any time and we'll walk you through your options.

Your Mortgage Advisor

Scott Smith

scott.smith@onerealmortgage.com

You are receiving this from Scott Smith. Unsubscribe