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Mortgage Market Update
My Mortgage Company
Jeremy Coccimiglio
Tuesday, November 3, 2026
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Is your loan type still working for you? |
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Every borrower's situation is different, and so is every mortgage. This week I want to help you make sure you're in the right one.
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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
Which loan type fits your situation?
Not all mortgages are created equal, and the right one for you depends on your timeline, down payment, and comfort with risk. Fixed-rate loans keep your payment steady forever—great for peace of mind. Adjustable-rate mortgages can start lower but change over time. Some programs are built for first-time buyers; others reward those with solid credit or a larger down payment. The loan type you choose affects not just your monthly payment, but how much you'll pay over the life of the loan and what flexibility you have down the road. If you're unsure whether you're in the best loan for where you are now, that's worth exploring. I'd love to walk you through your options and see if a different program might work better for your goals. Let's talk about what loan type makes the most sense for you.
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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
Jeremy Coccimiglio
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