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Mortgage Market Update
My Mortgage Company
Mike Garrett
Tuesday, November 3, 2026
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Finding the right fit in your mortgage |
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Hi there, I wanted to reach out this week about something that shapes your entire mortgage experience: choosing the right loan program for your needs.
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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
The loan program that fits your situation
Not all mortgages work the same way, and that matters more than you might think. The right loan program can mean a lower monthly payment, fewer upfront costs, or more flexibility down the road—depending on your goals and how long you plan to stay in your home. Some borrowers benefit from fixed rates that never change. Others find adjustable programs make sense if they're planning to move or refinance in a few years. First-time buyers often have access to programs designed specifically for them. The key is matching the program to your actual life, not just picking the first option you hear about. I'd love to walk you through what's available for your situation and why one program might serve you better than another. Let's talk about which loan program makes the most sense 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
Mike Garrett
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