Mortgage Market Update

My Mortgage Company

Daniel Skagen | Barrett Financial Group

Tuesday, November 3, 2026

Which loan type is right for you

Every mortgage is different—and that's actually good news. The loan you choose can make a real difference in your costs and peace of mind.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Loan Programs

Not all mortgages work the same way

When you're shopping for a mortgage, you'll hear about fixed rates, adjustable rates, FHA loans, conventional loans, and more. Each one has different rules about how long your rate stays the same, what down payment you need, and how much you pay over time. The right choice depends on your situation—how long you plan to stay in the home, what you can put down, and how comfortable you are with change. I've seen borrowers save money by picking a loan program that actually fits their life, not just the one that sounds cheapest on day one. Let's talk about which options make sense for where you are.

Reach out and we can walk through what programs fit your timeline and budget.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Daniel Skagen | Barrett Financial Group

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