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Mortgage Market Update
My Mortgage Company
Jacob Smith
Tuesday, November 3, 2026
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Loan programs aren't one-size-fits-all |
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Every borrower's path to homeownership looks a little different. The right mortgage program depends on your unique circumstances—not someone else's.
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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
Why your neighbor's mortgage might not work for you
Just because someone else got approved for a certain loan program doesn't mean it's the best fit for your situation. Your credit profile, down payment, income, and goals are unique—and lenders have different programs to match different needs. What works smoothly for one borrower might come with trade-offs for another. Understanding your options helps you avoid overpaying or locking into terms that don't serve you well. I'd be happy to walk you through what's actually available to you based on your specific circumstances. Let's talk about which loan program makes sense 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
Jacob Smith
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