Mortgage Market Update

My Mortgage Company

Rowley RV - PHX

Tuesday, November 3, 2026

What loan type actually fits your life

Hi there. This week I want to talk about something that affects every mortgage decision: the type of loan you choose.

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

Loan options beyond the standard 30-year mortgage

Not every mortgage fits the same mold. Depending on your situation—how long you plan to stay in your home, your income stability, or how much you've saved—different loan programs can work better than others. Some borrowers benefit from shorter loan terms that build equity faster. Others find that adjustable-rate or interest-only options make sense for their timeline. The key is understanding what's actually available to you, not just defaulting to what you've heard about.

I find that borrowers often don't realize how many doors are open until we talk it through. Your down payment size, credit profile, and financial goals all shape which programs make the most sense. Let's sit down and explore what could work best for your situation.

Reach out and let's discuss which loan program might be the best fit for you.

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

Rowley RV - PHX

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