Mortgage Market Update

My Mortgage Company

ash ketchum

Tuesday, November 3, 2026

Picking the wrong loan type is an easy mistake

One of the most important decisions in getting a mortgage isn't about the rate—it's about the loan program itself. Here's what you need to know.

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

Why your loan type matters more than you think

When you're shopping for a mortgage, it's easy to focus only on the interest rate. But the type of loan you choose—fixed-rate, adjustable-rate, FHA, conventional, or others—shapes your entire borrowing experience. Each program comes with different rules about down payments, credit requirements, and how your payment behaves over time. The right choice depends on your situation: how long you plan to stay in the home, your risk tolerance, and your financial goals. I see borrowers regret their choice later because they didn't understand what they were signing up for. Let's talk about which loan program actually fits your life, not just what sounds cheapest today.

Reach out if you'd like to explore which loan type makes the most sense for your goals.

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 My Mortgage Company team any time and we'll walk you through your options.

Your Mortgage Advisor

My Mortgage Company

ash ketchum

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