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Mortgage Market Update
My Mortgage Company
Omar Brito
Tuesday, November 3, 2026
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Your loan type shapes more than just the rate |
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One question I hear less often than I should: "What kind of mortgage should I get?" Most borrowers focus on rate alone. But the loan program itself matters just as much.
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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
Why your loan type matters more than you think
Not all mortgages are created equal. The type of loan you choose affects not just your interest rate, but how your payments work, when you build equity fastest, and what flexibility you have down the road. A fixed-rate loan keeps your payment stable forever. An adjustable-rate loan might start lower but can change. Government-backed loans like FHA or VA have different rules than conventional mortgages. Each one solves a different problem depending on your timeline and comfort level. Understanding which program fits your life—not just the lowest rate—is what separates a good decision from one you'll question later. Let's talk through which loan type makes 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
Omar Brito
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