Mortgage Market Update

My Mortgage Company

Chris Butler

Tuesday, November 3, 2026

Understanding the loan type you're in

Hi there. This week I want to pull back and focus on something that doesn't change week to week, but absolutely shapes your mortgage experience.

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

Not all mortgages are created equal. The type of loan you choose—fixed-rate, adjustable-rate, FHA, conventional, or VA—shapes not just your monthly payment, but your financial flexibility and peace of mind over the years ahead. Some borrowers thrive with the stability of a fixed rate; others benefit from programs designed for first-time buyers or those with tighter credit histories. The right fit depends on your timeline, risk tolerance, and long-term plans. If you've never dug into why your current loan is structured the way it is, or if you're curious whether a different program might work better for your next move, I'd love to walk through your options. Understanding what you have—and what else is available—is always worth the conversation.

Let's talk about whether your current loan is still the best fit for where you are now.

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

Chris Butler

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