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Mortgage Market Update
My Mortgage Company
Randy Nederman
Tuesday, November 3, 2026
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Which mortgage program fits you best? |
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Hi there. This week I want to talk about something that doesn't get enough attention: the difference between loan programs and why it matters.
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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 Program Fit
Picking a loan program that matches your life
Not all mortgages work the same way, and the right loan for your neighbor might not be right for you. Some programs lock your rate and payment for the full term. Others let your rate adjust after an initial period, which can mean lower payments to start. Some let you borrow against equity later; others don't. The best choice depends on how long you plan to stay, your comfort with change, and what your monthly budget can handle. I help borrowers sort through these options all the time, and it's always about understanding what you need—not what sounds fanciest. If you're curious whether your current loan is still serving you well, or you're thinking about what to choose on a purchase, let's talk. Reach out if you'd like to walk through which program might fit your situation best.
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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
Randy Nederman
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