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Mortgage Market Update
My Mortgage Company
Legacy Lending Group
Tuesday, November 3, 2026
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Mortgage options beyond the standard 30-year |
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Not every borrower needs the same loan structure. This week, I want to walk you through why loan type matters and how to think about what fits your life.
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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
Not all mortgages work the same way
One of the biggest mistakes I see is borrowers assuming there's only one type of mortgage out there. In reality, you have options—fixed-rate loans, adjustable-rate mortgages, government-backed programs, portfolio loans—and each one behaves differently over time. The right choice depends on your timeline, risk tolerance, and financial goals. A first-time buyer with plans to stay put for decades has different needs than someone who might move in five years. The program you choose affects not just your rate, but how your payment and loan balance work over time. Understanding what's available to you is the first step to making a decision you'll feel good about for years to come. Let's talk through which program 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
Legacy Lending Group
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