Mortgage Market Update

My Mortgage Company

Matt & Eliesha Cavanaugh

Tuesday, November 3, 2026

Your mortgage options, explained simply

There's more variety in mortgages than most people realize. Let me break down why the type of loan you choose matters just as much as the rate.

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

Not all mortgages work the same way

When you're shopping for a mortgage or thinking about refinancing, you'll hear terms like fixed-rate, adjustable-rate, FHA, conventional, and VA thrown around. Each one has different rules, protections, and payment structures—and what works for your neighbor might not be the best fit for you. The right program depends on how long you plan to stay in your home, how comfortable you are with payment changes, and what you qualify for based on your situation. It's worth understanding the real differences so you can make a choice that actually matches your goals, not just chase the lowest advertised rate. I'd be happy to walk you through your options and explain how each one would look for your specific circumstances.

Let's talk about which mortgage program makes the most sense for your situation.

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

Matt & Eliesha Cavanaugh

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