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Mortgage Market Update
My Mortgage Company
Colin Whitermore
Tuesday, November 3, 2026
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The loan you pick matters more than you think |
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Hi there. This week I want to talk about something that often gets overlooked when people are focused on rates: the actual structure of the mortgage itself.
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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
Not all mortgages work the same way
When you're shopping for a home or thinking about refinancing, the interest rate gets most of the attention. But the type of loan you choose matters just as much. Some programs let you start with a lower payment and adjust over time. Others lock everything in from day one. Some work best if you're planning to stay put for decades; others reward you for moving sooner. The right choice depends on your timeline, your comfort with change, and what matters most to your budget right now. I'd be happy to walk you through how different loan structures actually work and which one fits your situation best. Let's talk about which loan program makes sense 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 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
Colin Whitermore
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