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Mortgage Market Update
My Mortgage Company
George Lane
Tuesday, November 3, 2026
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Which loan program fits your situation? |
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Hi there—this week I want to talk about something that doesn't get enough attention when people are house hunting.
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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
Your loan type matters more than you think
When you're shopping for a mortgage, it's easy to focus on rate and payment. But the loan program itself—conventional, FHA, VA, USDA—shapes your whole borrowing experience. Different programs have different rules about down payments, credit requirements, and what you can borrow against. Some let you tap into first-time buyer programs or special perks. Others work better if you're self-employed or have an uneven income history. The right program for your situation can mean the difference between a smooth closing and unnecessary friction. If you're not sure which program fits your life, that's exactly what I'm here to walk through with you. Let's talk about which loan program makes the most sense for where you are right now.
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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
George Lane
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