Mortgage Market Update

My Mortgage Company

Austin Waters

Tuesday, November 3, 2026

Which loan type is actually best for you?

Hi there. This week I want to circle back to something that shapes your entire mortgage experience—and it's not always the first thing borrowers think about.

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

Your loan type shapes your whole mortgage picture

When you're shopping for a mortgage, it's easy to focus only on interest rates. But the loan program you choose—fixed-rate, adjustable-rate, FHA, conventional, VA—actually matters just as much. Each one comes with different rules, costs, and long-term tradeoffs that affect how much you pay, how flexible you are, and what happens down the road. The right choice depends on your timeline, how long you plan to stay in the home, and your comfort with change. I always tell clients: don't let rate alone drive the decision. Let's talk through which program fits your actual life and goals.

Reach out if you'd like to walk through how different loan types would work 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

Austin Waters

You are receiving this from Austin Waters. Unsubscribe