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Mortgage Market Update
My Mortgage Company
Christos Peter
Tuesday, November 3, 2026
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Mortgage types explained—and why it matters |
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There's a lot of confusion out there about mortgages. I want to clear some of it up for 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 homeowners all the time who've never really understood the differences between the loan they have and the options available to them. Fixed-rate mortgages lock your interest rate for the life of the loan—predictable and stable. Adjustable-rate mortgages start lower but can change over time. Government-backed loans like FHA and VA have their own rules and benefits. Conventional loans offer different flexibility. The type of loan you choose affects not just your rate, but how your payment works, what you pay over time, and how much freedom you have down the road. If you're curious whether your current setup is the right fit, or if you're shopping for your first home and want to understand what's really out there, I'm happy to walk you through it. Let me know if you'd like to talk through what loan type 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
Christos Peter
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