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Mortgage Market Update
My Mortgage Company
Jose Treto
Tuesday, November 3, 2026
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Picking the right loan type matters |
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There's more to choosing a mortgage than rate shopping. This week, let's look at why the kind of loan you pick can be just as important as the price of borrowing.
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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 built the same way
When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the type of loan you choose matters just as much—maybe more. Different programs have different rules about down payments, credit requirements, how long you have to repay, and what happens if rates change. A conventional loan works one way; an FHA loan works another. Some programs let you put down less upfront. Others are designed for first-time buyers or rural properties. The right fit depends on your situation, your timeline, and what you're comfortable with. I'd love to walk you through your options and help you understand which program makes sense for your goals. Let's talk about which loan program fits your plans.
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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
Jose Treto
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