Mortgage Market Update

My Mortgage Company

Kenneth Francis

Tuesday, November 3, 2026

Picking the right loan type matters

Every borrower's situation is different—and the loan you choose should reflect that. This week I'm breaking down why one-size-fits-all thinking can cost you money.

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

Which loan type actually fits your situation

Not all mortgages are built the same, and picking the wrong one can cost you thousands over the life of your loan. Fixed-rate mortgages lock in the same payment forever—great if you plan to stay put. Adjustable-rate loans start lower but can change later, which works for some borrowers but not others. Then there are FHA, VA, USDA, and conventional options, each with different rules about down payments, credit scores, and what properties qualify. The right choice depends on your timeline, risk tolerance, and how long you'll keep the home. I'd love to walk through your specific situation and show you which program actually makes sense for you.

Let's talk about which loan type works best for where you are right now.

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

Kenneth Francis

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