Mortgage Market Update

My Mortgage Company

Hargrave Home Loans

Tuesday, November 3, 2026

Not all mortgages work the same way

There are several different types of mortgages out there, and each one works differently depending on your needs and plans.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Loan Program Guide

Which loan type actually fits your situation?

There's more than one way to borrow for a home, and the right choice depends on your specific circumstances. Fixed-rate mortgages lock your payment in place for the life of the loan. Adjustable-rate options may start lower but can change over time. Government-backed programs like FHA, VA, and USDA loans serve different borrower profiles. Some people benefit from longer loan terms; others prefer paying off faster. The mistake I see most often is picking a loan type because it sounds familiar, not because it matches your timeline, risk tolerance, and financial goals. If you've never sat down to compare what's actually available to you, or if your situation has changed since you last borrowed, it's worth a conversation. I can walk you through the tradeoffs so you're choosing based on facts, not assumptions.

Let's talk about which loan structure makes sense for where you are today.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Hargrave Home Loans

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