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Mortgage Market Update
My Mortgage Company
Kristen Hordyk
Tuesday, November 3, 2026
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Picking the right loan type for your situation |
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Hey there—this week I want to talk about something that often gets overlooked when borrowers are hunting for rates. Your loan program choice can matter just as much as the rate itself.
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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 Options
Why your loan type matters more than you think
Not all mortgages work the same way, and the program you choose shapes your entire borrowing experience. Some loans offer flexibility; others lock in certainty from day one. Some make sense if you're staying put for decades; others work better if your life might change. The right fit depends on your timeline, risk tolerance, and financial goals—not just on finding the lowest rate this week. I've seen borrowers choose a program that looked good on paper, only to realize later it didn't match their actual situation. That's why it's worth having a real conversation about what you're trying to accomplish, not just which box to check. If you've never explored how different loan structures could work for you, now's a good time to talk it through. Let's discuss which loan program aligns best with your goals.
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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
Kristen Hordyk
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