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Mortgage Market Update
My Mortgage Company
Nicholas Smith
Tuesday, November 3, 2026
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Picking the right mortgage for you |
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Every borrower's situation is different, and so is the mortgage that makes sense for them. This week, let's look at how to match the loan type to your life.
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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
Which loan type fits your situation?
Not all mortgages work the same way, and the right one for you depends on your timeline, income stability, and how long you plan to stay in your home. A fixed-rate loan keeps your payment steady for decades. An adjustable-rate mortgage might start lower but can change over time. Government-backed programs like FHA or VA loans have their own rules and benefits. Some borrowers benefit from shorter loan terms; others need the breathing room of a longer one. The choice isn't about what's "best"—it's about what matches your life. I'd be happy to walk through the options and help you see which makes sense for where you are right now. Let's talk about which loan structure works best 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
Nicholas Smith
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