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Mortgage Market Update
My Mortgage Company
Michael Vetri
Tuesday, November 3, 2026
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The loan type you pick shapes your whole mortgage |
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Hi there. This week I want to talk about something that shapes your entire borrowing experience: which type of mortgage you choose.
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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 mortgage or thinking about refinancing, the loan program you choose matters as much as the rate itself. Different programs come with different rules about down payments, credit requirements, how much you can borrow, and what happens if rates change. A fixed-rate mortgage locks in your payment for the life of the loan, while an adjustable-rate mortgage might start lower but can shift over time. Some programs are built for first-time buyers; others reward folks with substantial equity. The right choice depends entirely on your timeline, financial comfort, and goals. If you're not sure which program fits your situation, I'd love to walk through your options with you. Let's talk about which loan type makes the most sense for where you are right now.
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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
Michael Vetri
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