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Mortgage Market Update
My Mortgage Company
Lending Pad
Tuesday, November 3, 2026
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What we're really looking for in your application |
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Getting a mortgage means letting someone look closely at your finances. Here's what that's actually about.
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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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Mortgage Basics
Why your loan officer asks so many questions
I know the application process feels thorough—sometimes exhaustingly so. But every question has a purpose. We're not being nosy; we're building the clearest picture of your finances so we can find you the right loan at the best terms available to you. Things like your job stability, savings patterns, existing debts, and credit history all tell us which programs you qualify for and help us spot potential issues before they slow things down. The more honest and complete your answers, the faster and smoother your approval tends to go. If anything feels unclear or invasive, just ask me why I'm asking. I'd rather explain than have you guessing. Let's talk through your situation—I'm happy to walk you through what to expect.
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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
Lending Pad
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