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Mortgage Market Update
Derek Mollin
Derek Mollin
Tuesday, November 3, 2026
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Your loan program might not be the best one for you |
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Not every mortgage is structured the same way, and that matters more than most people realize. This week I'm breaking down why the program you choose can make a real difference.
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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 are created equal
One of the biggest decisions you'll make as a borrower isn't always obvious: which loan program fits your situation. Fixed-rate mortgages, adjustable options, government-backed programs—they each have trade-offs that can affect your payment, flexibility, and long-term costs in different ways. What works for your neighbor might not be the best fit for you, especially depending on how long you plan to stay in your home and how comfortable you are with payment changes. The right program can mean real money in your pocket over time. If you've been curious about whether you're in the right loan, or if life circumstances have changed since you closed, I'd love to walk through your options with you. Let's talk about which program makes the most sense for where you are right now.
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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 Derek Mollin team any time and we'll walk you through your options. |
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