Mortgage Market Update

My Mortgage Company

Adrian Petersen

Tuesday, November 3, 2026

Your mortgage works differently than you think

Most borrowers don't fully understand their own loan until years in. Here's what you should know before you sign.

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

Not all mortgages work the same way

One of the biggest surprises I hear from borrowers is how differently their loan behaves compared to what they expected. Fixed-rate mortgages, adjustable rates, FHA loans, conventional programs—they each have their own rules about how much you can borrow, what your payment covers, and what happens over time. The right choice depends on your timeline, risk comfort, and financial picture. I've seen borrowers save money and stress by understanding their actual loan structure before signing, not after. If you've never dug into how your mortgage actually works, or you're shopping for one and want to know the real differences, I'm here to walk you through it.

Let's talk about which loan structure makes sense for your situation.

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

Adrian Petersen

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