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Mortgage Market Update
My Mortgage Company
Lorraine Amador
Tuesday, November 3, 2026
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Picking the right loan matters |
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A mortgage is a personal contract, not a commodity. The program you choose shapes how you'll pay for your home for years to come.
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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
Why your loan choice matters more than you think
When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the loan program itself—the terms, structure, and flexibility built into it—shapes your entire borrowing experience. Some programs offer lower starting rates but adjust over time. Others cost more upfront but give you payment predictability for decades. Some let you tap your equity later; others don't. The right program for you depends on how long you plan to stay in your home, how comfortable you are with payment changes, and what financial moves you might need to make down the road. Understanding your options helps you choose a loan that actually fits your life, not just today's rate sheet. Let's talk through which loan structure makes sense for your situation.
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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
Lorraine Amador
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