Mortgage Market Update

Megan Henderson

Barrett Financial

Tuesday, November 3, 2026

What type of loan should you actually have?

Every borrower's situation is unique, and that includes which mortgage program makes the most sense for you. Here's how to think about it.

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

Which loan type matches your situation?

Not all mortgages are created equal, and the right one for you depends on your timeline, financial picture, and comfort level. Conventional loans, FHA loans, VA loans if you're military-connected, USDA loans in rural areas—each one has different rules about down payments, credit requirements, and closing costs. Some work better if you're buying now; others make more sense if you're planning to stay put. The wrong choice can cost you money over time, even if the interest rate looks identical. That's why I always recommend a conversation before you apply anywhere. I can walk you through what's actually available to you and which program gets you where you want to go without unnecessary friction. It's one of those decisions that feels complex until someone explains it clearly.

Let's talk through which loan program fits your goals—just reach out.

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 Megan Henderson team any time and we'll walk you through your options.

Your Mortgage Advisor

Megan Henderson

Barrett Financial

meganh@barrettfinancial.com

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