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Mortgage Market Update
Joe Almeida
Joe Almeida
Tuesday, November 3, 2026
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What you should know about loan term choices |
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Hi there—this week I want to talk about one of the most important decisions in your mortgage: which loan program actually fits your life.
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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
Exploring loan options beyond the standard 30-year
When most people think about mortgages, they picture a 30-year loan. But that's just one choice among several that might work better for your situation. Shorter loan terms, government-backed programs, and adjustable options all have their own advantages—lower interest costs, faster equity building, or lower upfront expenses, depending on what matters most to you. The right loan type isn't about what's most popular; it's about what fits your timeline, budget, and comfort level. I'd love to walk you through the options that make sense for where you are right now. Let's find the loan program that works 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 Joe Almeida team any time and we'll walk you through your options. |
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