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Mortgage Market Update
My Mortgage Company
Samuel P. Royer
Tuesday, November 3, 2026
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Is your loan type working for you? |
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Hi there. This week I want to focus on something that doesn't get talked about enough: the actual type of loan you have 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 Program Fit
The right loan type matters more than you think
Not all mortgages work the same way, and picking the wrong one can cost you years or thousands in the long run. Some loans offer flexibility if your income or plans might shift. Others lock in stability from day one. Some let you build equity faster. The best choice depends on your situation—not on what worked for your neighbor or what sounds familiar. If you're thinking about buying soon, or if you're already a homeowner wondering whether your current loan is still the right fit, it's worth a conversation. I can walk you through what's available and what actually makes sense for where you are right now. Let's talk about which loan program fits your life best.
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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
Samuel P. Royer
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