Mortgage Market Update

Myrna Hernandez

Myrna Hernandez Venzor

Tuesday, November 3, 2026

Picking the right loan type for you

Hi there. This week I want to cut through the noise and talk about something that matters way more than people realize: the actual structure of your loan.

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 are built the same

When you're ready to buy or refinance, the type of loan you choose shapes your monthly payment, how much interest you pay over time, and what flexibility you have down the road. A 15-year mortgage works differently than a 30-year. A fixed rate locks in your payment forever, while an adjustable rate might start lower but can change. Government-backed loans (FHA, VA, USDA) have their own rules and benefits. The right choice depends on your timeline, comfort with risk, and what you're trying to accomplish. I'm here to walk through your options and help you understand which structure actually fits your life, not just what sounds good in theory.

Let's talk through which loan program makes sense for your situation.

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 Myrna Hernandez team any time and we'll walk you through your options.

Your Mortgage Advisor

Myrna Hernandez

Myrna Hernandez Venzor

myrnah@barrettfinancial.com

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