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Mortgage Market Update
My Mortgage Company
Processor Pro - For Deletion
Tuesday, November 3, 2026
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Why your neighbor's loan might not be yours |
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Not every mortgage is built the same way. Here's why that matters to you.
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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
I talk to a lot of people who think a mortgage is just a mortgage — you borrow money, you pay it back. But the loan program you choose shapes everything about your experience as a borrower. Fixed-rate loans work differently than adjustable ones. Conventional loans have different rules than government-backed programs. Some programs let you put down less money upfront. Others reward you for a bigger down payment. The right fit depends on your timeline, your comfort with change, and what you're trying to accomplish. If you're shopping around or thinking about a future move, it's worth understanding which program actually fits your life — not just which one sounds cheapest this month. Let's talk about which loan program makes sense for your situation.
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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
Processor Pro - For Deletion
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