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Mortgage Market Update
My Mortgage Company
Joshua Hicks
Tuesday, November 3, 2026
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Why your mortgage program matters |
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Hi there. This week I want to talk about something that often gets overlooked when people are shopping for a home or thinking about their loan.
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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
I talk to a lot of people who think a mortgage is a mortgage—but the truth is, the loan program you choose shapes your entire borrowing experience. Some programs let you put down less money upfront. Others help if your credit is still being rebuilt. A few are built for people who plan to stay put; others reward those who might move in five years. The program that makes sense for your neighbor might cost you thousands more. That's why I always ask about your real plans before recommending anything. The right fit depends on your timeline, your down payment, and what matters most to you—not on what worked for someone else. If you'd like to talk through which program might actually work for your situation, I'm here to walk you through it.
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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
Joshua Hicks
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