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Mortgage Market Update
My Mortgage Company
Barrett Financial - Robert Ianniciello
Tuesday, November 3, 2026
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Do you know what type of loan you actually have? |
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A lot of homeowners know their mortgage exists, but fewer know the details that shape their monthly costs. This week, let's clear up a common blind spot.
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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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Mortgage Basics
What your loan type really means for your wallet
Most people know whether they have a fixed or adjustable mortgage, but not everyone understands what that choice actually costs them month to month. The loan type you chose—or inherited when you bought—affects your payment stability, how interest rate changes ripple through your finances, and what options you'll have down the road. If you're unsure what you're locked into, or you're wondering whether your current setup still makes sense for where you are now, it's worth a conversation. I can walk you through what you have and whether a change might benefit you. Let's talk about what your loan type means 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
Barrett Financial - Robert Ianniciello
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