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Mortgage Market Update
Alessandro Mungioli
Alessandro Mungioli
Tuesday, November 3, 2026
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Confused about loan types? Here's what matters |
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There's a lot of terminology in the mortgage world, and not all of it makes sense at first glance. This week I want to demystify loan programs and show you why the one you choose matters.
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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
What your loan type actually means for your wallet
When you're shopping for a mortgage, you'll hear terms like fixed-rate, adjustable-rate, FHA, conventional, and VA. They're not just labels—they're different tools with real consequences for your monthly payment and long-term costs. Each program has its own rules around down payments, credit requirements, and how your rate behaves over time. Understanding which one fits your situation helps you avoid surprises down the road and make sure you're not paying for features you don't need. If you're not sure which program makes the most sense for you, I'd be happy to walk through the options and show you how each one would work with your numbers. Reach out and let's talk about which loan program is the right fit for 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 Alessandro Mungioli team any time and we'll walk you through your options. |
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