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Mortgage Market Update
My Mortgage Company
Lisa Meyer
Tuesday, November 3, 2026
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Is your loan type still the right choice? |
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There's a lot more to a mortgage than just the interest rate. This week I want to touch on loan programs—and why the one you choose matters.
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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 Program Fit
Picking the right loan type for your situation
Not all mortgages work the same way, and the best loan for your neighbor might not be the best for you. Some borrowers benefit from fixed rates that never change. Others do better with adjustable options if they plan to move or refinance down the road. Government-backed programs like FHA and VA have different rules and perks than conventional loans. The program you choose affects your monthly payment, upfront costs, and long-term flexibility. If you're not sure whether your current loan is still the right fit, or if you're shopping and want to understand your real options, it's worth a conversation. I can walk you through how each program works and which one makes sense given your timeline and goals. Let's talk about whether your loan is working as hard as it could for you.
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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
Lisa Meyer
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