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Mortgage Market Update
Holly L
Holly L Bennett Clark
Tuesday, November 3, 2026
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Why your loan type matters more than you might think |
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Hi there—this week I want to break down something that often gets overlooked when people are focused on finding the lowest rate.
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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 work the same way
When you're shopping for a mortgage, the interest rate gets most of the attention—but the type of loan you choose matters just as much. Different programs come with different rules about down payments, credit requirements, how long you have to repay, and what flexibility you get if life changes. A program that's perfect for one borrower might not be the best fit for another. The right choice depends on your timeline, how long you plan to stay in the home, your financial picture, and what kind of predictability you need in your monthly payment. I'd be happy to walk you through your options and help you understand which program aligns with your goals. Reach out and let's talk through which loan structure makes sense for your situation.
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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 Holly L team any time and we'll walk you through your options. |
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