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Mortgage Market Update
Martha Keeter
Martha Keeter
Tuesday, November 3, 2026
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Why your loan type matters more than you think |
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Hi there. This week I want to walk you through something that doesn't always get the attention it deserves: understanding what different loan programs actually do for—and to—your wallet.
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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
What your loan type actually costs you
Different loan programs come with different trade-offs, and it's worth understanding what you're really paying for. A fixed-rate loan locks in predictability—your payment never changes. An adjustable-rate option might start lower but can shift over time. Government-backed programs like FHA or VA have their own costs and protections. Cash-out refinances let you access equity but change your loan balance. None of these is universally "best"—it depends on your timeline, risk tolerance, and financial picture. The goal is choosing a program that actually fits your life, not just chasing the lowest number on paper. Let's talk about which 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 Martha Keeter team any time and we'll walk you through your options. |
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