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Mortgage Market Update
My Mortgage Company
Shantian Simmons
Tuesday, November 3, 2026
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Choosing the right loan program for your situation |
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Not every mortgage works the same way—and that's by design. Let me explain what that means for 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 work for you
Not all mortgages are created equal—and that's actually good news. Different loan programs exist because different people have different situations. A conventional loan works great for some borrowers, while an FHA or VA program might be the better fit for others. Your credit profile, down payment amount, income stability, and even your property type all play a role in which programs make sense for you. The right loan isn't always the one your friends have; it's the one built for where you are right now. I'd be happy to walk through which options are real possibilities for your specific circumstances. Let's talk about what loan program might be the right match 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
Shantian Simmons
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