Mortgage Market Update

My Mortgage Company

Mashell Carmack

Tuesday, November 3, 2026

Picking the right loan type for your home

Not all mortgages are created equal. The loan program you choose matters just as much as the rate you get.

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 Program Fit

Why your loan type matters more than you think

When you're shopping for a mortgage, it's easy to focus only on interest rates. But the type of loan you choose—conventional, FHA, VA, USDA, or something else—shapes your entire borrowing experience. Different programs have different rules about down payments, credit requirements, property types, and long-term costs. The right fit for your neighbor might not be the right fit for you. A loan program that works with your financial situation and your home plans can mean the difference between a smooth closing and unnecessary stress down the road. If you're not sure which program makes sense for your circumstances, I'd love to walk you through your options.

Let's talk about which loan program fits your situation best.

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

Mashell Carmack

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