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Mortgage Market Update
My Mortgage Company
Darren Cox
Tuesday, November 3, 2026
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What your loan can actually do |
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Hi there,
This week I want to talk about something a lot of homeowners don't realize: your loan isn't necessarily locked in stone.
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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
Switching loan types might be easier than you think
A lot of homeowners assume their current loan is permanent—but that's not always true. If you started with an adjustable rate and want the security of a fixed payment, or if you locked in a longer loan term and now want to pay it off faster, there are real options worth exploring. The key is understanding what's available to you right now without starting from scratch. Sometimes a simple loan adjustment costs less than you'd expect, and it might give you the peace of mind or flexibility you've been wanting. I'd love to walk you through what's possible for your specific situation. Reach out if you're curious whether your loan could work differently 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
Darren Cox
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