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Mortgage Market Update
My Mortgage Company
Colin Whitermore
Tuesday, November 3, 2026
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Finding the right loan for your situation |
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Hi there. This week I want to talk about loan programs and why one size doesn't fit everyone.
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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
The loan type that might fit your situation best
Not all mortgages work the same way, and that's actually good news. Fixed-rate loans lock in the same payment forever—perfect if you want predictability. Adjustable-rate loans often start lower, which can help if you're planning to move or refinance down the road. Longer loan terms mean smaller monthly payments; shorter ones build equity faster and cost less overall. The right choice depends on your timeline, risk tolerance, and what you're trying to accomplish. I'd love to walk you through which programs make sense for your goals and help you compare the real tradeoffs. Let's find the loan structure that works for your life.
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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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