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Mortgage Market Update
My Mortgage Company
Roy Paeth
Tuesday, November 3, 2026
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The loan program question nobody asks |
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Hi there. This week I want to walk you through something that shapes your mortgage for years to come—and it's worth getting right the first time.
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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
Not all mortgages work the same way
One of the biggest mistakes I see is borrowers picking a loan program because it sounds familiar—or because a friend had good luck with it. The truth is, the right program depends on your situation, timeline, and comfort level with risk. A fixed rate feels safe but might cost more upfront. An adjustable rate can start lower but changes over time. Some programs help if your down payment is smaller. Others reward you for staying put. The best fit for your neighbor might be wrong for you. That's why I always ask questions first: How long do you plan to stay? What matters more—predictability or initial savings? Are you building equity slowly or quickly? Once I know what you're working with, the right program becomes obvious. Let's talk about which program makes sense for your goals.
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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
Roy Paeth
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