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Mortgage Market Update
Melissa Carbonell
Melissa Carbonell
Tuesday, November 3, 2026
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What kind of mortgage do you actually have? |
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Hi there. This week I want to help you get clear on something many borrowers take for granted: the actual structure of their loan.
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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 loan type matters more than you think
Not all mortgages work the same way. Whether you have a fixed rate, an adjustable rate, or something in between, your loan structure affects how your payment behaves over time, what happens when rates move, and how much flexibility you have down the road. Understanding your own loan—what type it is and how it works—puts you in control of your financial decisions instead of being surprised by them. If you're not sure what kind of mortgage you're carrying, or if you're wondering whether a different loan program might suit your situation better now, it's worth taking a closer look. I'm here to walk you through the options and answer any questions. Let's talk about whether your current loan is still the right fit for you.
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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 Melissa Carbonell team any time and we'll walk you through your options. |
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