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Mortgage Market Update
My Mortgage Company
Test Rey Magz
Tuesday, November 3, 2026
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Which loan program fits your life |
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Hi there. I want to touch on something that doesn't always get enough attention: the different types of mortgages available, and why the right choice depends on 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 are built the same
One of the biggest mistakes I see is assuming every loan program works the same way. The truth is, there are real differences in how loans are structured—what you pay upfront, how your rate behaves over time, and what flexibility you have down the road. Some programs make sense if you're staying put for decades. Others are built for people who might move or refinance sooner. Your financial picture, timeline, and comfort level all matter when choosing the right fit. It's worth a conversation to make sure your loan is actually designed for your life, not just the lowest number on a rate sheet. If you'd like to talk through which program might work best for your situation, I'm here to help.
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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
Test Rey Magz
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