Mortgage Market Update

My Mortgage Company

Nicholas Drescher

Tuesday, November 3, 2026

Picking the right mortgage for your situation

Not every mortgage is created equal. Here's what you need to know about finding the one that fits your life.

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

If you've been shopping around or talking to lenders, you've probably heard terms like conventional, FHA, VA, or USDA thrown around. Each one has different rules about down payments, credit requirements, and what kind of property you can buy. What works for your neighbor might not be the best fit for you—and that matters, because the right program can open doors that others keep closed. Whether you're a first-time buyer with limited savings, a veteran, or a rural homebuyer, there's likely a program built with your situation in mind. I'd love to walk you through which options actually apply to your specific circumstances.

Let's talk about which loan program makes sense for where you are today.

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

Nicholas Drescher

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