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Tuesday, November 3, 2026 |
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Mortgage Market Update
Picking the right loan type matters
Hi there. Each week I share what's on my mind about mortgages, money, and homeownership. This week: how the type of loan you choose affects your bottom line.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
6.88%
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Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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
The mortgage you choose shapes how you pay for years to come. Some borrowers do better with a fixed rate that never changes. Others benefit from adjustable options early on. Then there are programs designed for specific situations—like if you're putting down less than 20%, or if you're a first-time buyer, or if you have an older home. The right fit depends on your timeline, risk comfort, and financial goals. I've seen people save real money just by matching their loan type to their actual plan. If you're not sure whether your current loan is the best one for you, or if you're thinking about buying soon, it's worth an honest conversation. I'm happy to walk through what's available and what 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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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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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 Jake Kornberg team any time and we'll walk you through your options.
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5060 Baker Rd Minnetonka, MN. 55345
612-396-0227
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