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Mortgage Market Update
Brennen Clouse
Brennen Clouse
Tuesday, November 3, 2026
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The loan type matters more than you think |
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Hi there. This week I want to talk about something borrowers don't always ask about, but should.
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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
When you're shopping for a loan, it's easy to focus only on the interest rate. But the type of mortgage you choose matters just as much. Some loans let you build equity faster. Others offer flexibility if your situation changes. Some come with different down payment options or protection against rising rates. The right program for you depends on your timeline, your comfort with payments, and what happens after you close. That's why I always recommend taking time to understand what each option actually does—not just what it costs today. Let's talk about which programs fit your real life. If you'd like to walk through your options, I'm here to help.
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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 Brennen Clouse team any time and we'll walk you through your options. |
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