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Mortgage Market Update
My Mortgage Company
Samuel P. Royer
Tuesday, November 3, 2026
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Your loan type might deserve a second look |
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Hi there. It's been a minute since we last connected, and I wanted to reach out about something straightforward.
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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 changes when you switch loan types
If you've been in a loan program for a while, you might not realize how many options exist now that weren't available before—or how switching could work in your favor. Moving from one loan type to another isn't just about chasing a lower rate; it's about matching your loan to where you are in life right now. Your situation has changed since you first borrowed. Your credit may have improved. Your home may have appreciated. Your timeline may be different. The right loan program today might be completely different from what made sense five years ago. I'd encourage you to think of this as a regular checkup, not a drastic decision. Let's talk about whether your current program is still the best fit. Give me a call or send a message—I'm happy to walk through what might have changed for you.
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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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