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Mortgage Market Update
My Mortgage Company
Shawn Howard
Tuesday, November 3, 2026
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Why your mortgage looks different from your neighbor's |
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Every homeowner's situation is unique. The right loan for one person isn't necessarily the right loan for another.
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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 work differently than yours
There's no single 'right' mortgage—different loan programs suit different situations. Some borrowers benefit from fixed rates that never change. Others do well with adjustable options that start lower. First-time buyers often qualify for programs with smaller down payments. Homeowners with significant equity can access different tools than those just starting out. The program that makes sense depends on your timeline, risk tolerance, how long you plan to stay in the home, and your financial picture. That's why it's worth having a real conversation about what's available to you, not just what worked for someone else. I'd like to help you understand which programs align with your actual goals. Let's talk about which loan program fits your situation best.
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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
Shawn Howard
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