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Mortgage Market Update
My Mortgage Company
Marysol Ruiz
Tuesday, November 3, 2026
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Your loan type shapes more than just your rate |
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When you're looking at mortgages, it's easy to focus only on the interest rate. But the loan program itself—how it's structured and what flexibility it gives you—often matters just as much.
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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 Program Fit
Picking the right loan type matters more than you think
Not all mortgages are created equal, and the one that's right for you depends on your specific situation. Some borrowers benefit from fixed rates for peace of mind; others find adjustable programs a better match for their plans. The loan you choose affects not just your monthly payment, but how much flexibility you have down the road—and what happens if your circumstances change. I've seen borrowers save real money simply by matching their program to their actual timeline and risk tolerance, rather than just chasing the lowest rate they can find. If you're not sure whether your current loan is still the best fit, or if you're shopping for a new one, I'd love to walk through the options with you. Let's talk about which program makes sense for where you are right now.
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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
Marysol Ruiz
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