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Mortgage Market Update
Sandria Taylor-Joseph
Sandria Taylor-Joseph
Tuesday, November 3, 2026
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Which loan type is right for you |
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Hi there. This week I want to talk about something I see borrowers overlook—the actual structure of their mortgage loan.
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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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Mortgage Basics
Why your loan type matters more than you think
Most people focus on interest rates when they're shopping for a mortgage, but the type of loan you choose shapes your financial life for years to come. Fixed-rate mortgages lock in your payment for the life of the loan—predictable and stable. Adjustable-rate mortgages start lower but can change over time, which works for some borrowers but not others. Then there are government-backed programs like FHA, VA, and USDA loans, each with different rules and benefits. The right loan for you depends on your timeline, risk tolerance, and plans for the home. I'd love to walk you through which option makes the most sense for your situation. Let's talk about which loan type fits your goals 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 Sandria Taylor-Joseph team any time and we'll walk you through your options. |
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