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Mortgage Market Update
My Mortgage Company
Michael Perlman
Tuesday, November 3, 2026
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More loan options than you might think |
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Hi there—it's a good week to take a fresh look at the mortgage landscape. Here's what's on my mind today:
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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
When a conventional loan isn't your only choice
A lot of homebuyers think they have to pick between one or two loan types, but the reality is there are several paths to homeownership—each with different requirements and benefits. Some programs are built for first-time buyers. Others work better if your down payment is smaller, or if your credit history isn't perfect, or if you're self-employed. The right loan for you depends on your situation, not on what worked for someone else. I've found that borrowers who understand their full range of options often end up in a loan that costs them less and fits their life better. If you're curious what might work for your circumstances, I'd love to walk through the options with you. 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
Michael Perlman
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