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Mortgage Market Update
My Mortgage Company
Jonathan Capellen
Tuesday, November 3, 2026
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Mortgage options you might not have considered |
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One of the biggest decisions isn't always the most obvious one. Let me break down why the type of loan you choose matters just as much as the rate.
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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
Understanding your loan options beyond the standard 30-year
When you're shopping for a mortgage, it's easy to focus only on the interest rate—but the loan program you choose shapes your entire borrowing experience. Beyond the conventional 30-year fixed, there are shorter terms, adjustable options, and specialized programs designed for different financial situations. A 15-year mortgage builds equity faster. An adjustable-rate loan might offer lower initial payments. First-time buyer programs can reduce down payment requirements. The right choice depends on how long you plan to stay in your home, your comfort with payment fluctuations, and your broader financial goals. I'd be happy to walk you through which options align with your situation. Let's talk through which loan structure makes the most sense for you.
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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
Jonathan Capellen
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