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Mortgage Market Update
My Mortgage Company
Dorian Weber
Tuesday, November 3, 2026
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Different loans, different rules |
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Hi there. This week I want to walk you through something that doesn't get enough attention when people are shopping for a mortgage.
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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 are built the same
One of the biggest decisions you'll make isn't about rates—it's about which loan program fits your life. A conventional loan works great for some borrowers, while an FHA loan makes more sense for others. Then there's VA loans, USDA loans, and more. Each has different down payment rules, credit requirements, and flexibility. The right choice depends on your situation: how much you can put down, what your credit looks like, where you're buying, and how long you plan to stay. I've seen borrowers save money and stress simply by landing on the program that actually matches their needs instead of forcing themselves into someone else's mold. Understanding your options means you're not settling—you're choosing. Let's talk about which program might work best for your circumstances.
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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
Dorian Weber
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