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Mortgage Market Update
My Mortgage Company
Stephanie Pena - FD
Tuesday, November 3, 2026
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Your loan program choice is worth discussing |
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Not every mortgage works the same way, and that matters more than most people realize. Here's what I'm seeing lately.
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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 Program Guide
Why your loan type matters more than you think
Not all mortgages are created equal. The loan program you choose affects not just your interest rate, but your flexibility, your long-term costs, and your options down the road. Some programs reward you for staying put. Others give you more breathing room if life changes. Some work better if you're putting down a smaller down payment, while others shine when you have equity to leverage. The right choice depends on your timeline, your risk tolerance, and your financial picture—not on what worked for your neighbor. That's why I always recommend a real conversation before you lock anything in. I can walk you through how different programs stack up for your specific situation. Let's talk about which loan program makes sense for where you are 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
Stephanie Pena - FD
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