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Mortgage Market Update
My Mortgage Company
Austin Waters
Tuesday, November 3, 2026
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Your neighbor's loan won't solve your problem |
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There's a lot of mortgage talk happening around the neighborhood and the office. But not all of it applies to you.
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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
Why your neighbor's mortgage might not be your best fit
One of the biggest mistakes I see is borrowers choosing a loan program based on what worked for someone else—a friend, a family member, even a coworker. But here's the thing: your financial situation, timeline, and goals are unique. A 15-year fixed might be perfect for one person and completely wrong for another. The same goes for adjustable-rate loans, jumbo products, and specialty programs. What matters is matching the right loan structure to your circumstances: how long you plan to stay in the home, how much monthly payment flexibility you need, whether rates are rising or falling. I'm here to walk through your actual situation and show you which program makes sense—not which one sounds good in conversation. Let's talk through what's right 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
Austin Waters
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