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Mortgage Market Update
My Mortgage Company
Jill McCain
Tuesday, November 3, 2026
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Why your neighbor's deal might not be yours |
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I talk to a lot of homeowners who compare notes with friends and family about rates and terms. But loan programs aren't one-size-fits-all, and I want to explain why.
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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
Why your neighbor's rate might not work for you
You might hear someone brag about the rate they locked in, but here's the thing: their loan probably looks different from yours. Loan programs vary based on your down payment, credit profile, property type, occupancy, and what you're trying to accomplish. A program that's perfect for a cash-out refinance doesn't work the same way for a purchase. Someone buying an investment property faces different options than a primary residence buyer. Rather than chasing what worked for someone else, I'd rather make sure you're in the program that actually fits your situation. That's where you get real value—not just a good rate, but the right fit. Let's talk about what makes sense for you. I'm happy to walk through the programs available for your specific scenario.
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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
Jill McCain
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