Mortgage Market Update

My Mortgage Company

Imagination Age Mortgage

Tuesday, November 3, 2026

Which loan type fits your plan?

Hi there — I've been thinking about how many borrowers focus on rates alone when picking a mortgage. The loan program itself is just as important.

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

Why your loan program matters more than you think

When we're shopping for a mortgage, most of us focus on the interest rate. But the type of loan you choose — fixed-rate, adjustable, government-backed, conventional — shapes your whole borrowing experience. Different programs offer different trade-offs: some lock in predictability, others start lower but adjust over time, and some require less down payment or offer flexibility for non-traditional credit. The right choice depends on how long you plan to stay in the home, your risk tolerance, and what your financial picture looks like. I've seen borrowers save money or gain peace of mind simply by matching the right program to their actual situation, not just chasing the lowest rate they can find. Let's talk about which program might work best for you.

Reach out, and we can walk through what makes sense for your goals.

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

Imagination Age Mortgage

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