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Mortgage Market Update
My Mortgage Company
Mashell Carmack
Tuesday, November 3, 2026
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Picking the right loan program |
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One of the biggest decisions in getting a mortgage isn't as visible as the interest rate, but it shapes your entire loan. Here's what you should know.
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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
When you're shopping for a home or thinking about refinancing, the interest rate gets most of the attention—but the loan program you choose matters just as much. Different programs have different rules about how much you need to put down, what your credit score should be, how much of your income can go to housing costs, and whether your rate stays locked in or adjusts over time. Some programs are built for first-time buyers. Others reward a larger down payment. Some make sense if you're planning to sell in five years; others if you're staying put for twenty. The right choice depends on your specific situation, timeline, and comfort level. I'd be happy to walk you through what's available and which options might fit your goals best. Let me know if you'd like to explore which program makes the most sense for you.
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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
Mashell Carmack
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