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Mortgage Market Update
My Mortgage Company
Raymond Rodrigues Jr
Tuesday, November 3, 2026
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Picking the right loan program for you |
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Hello—one of the most important decisions in your mortgage isn't the rate you get, but the loan program you choose. Here's why it 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 Programs
Your loan type matters more than you might think
When you're comparing mortgages, it's easy to focus only on the interest rate. But the loan program you choose—whether it's a conventional loan, an FHA loan, a VA loan, or something else—shapes your entire borrowing experience. Different programs have different rules about down payments, credit requirements, and what kind of property you can buy. Some programs work better if you're putting down a smaller amount. Others reward borrowers who have strong credit or who are buying their first home. The right fit depends on your specific situation, not just what sounds cheapest on day one. If you've been shopping around and feeling confused about which program actually makes sense for you, I'd love to walk through your options and help you understand what each one really means for your goals. Let's talk through which loan program fits your situation best.
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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
Raymond Rodrigues Jr
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