Mortgage Market Update

My Mortgage Company

Jim Booher

Tuesday, November 3, 2026

Not all mortgages are built the same

Different borrowers need different tools. This week, I want to help you see why the loan program you choose matters as much as the rate itself.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Loan Programs

Not all mortgages work the same way

One of the biggest decisions you'll make isn't just about your rate—it's about which loan program fits your life. Fixed-rate mortgages, adjustable-rate options, FHA loans, conventional programs—they each come with different rules, flexibility, and long-term costs. What works great for one borrower might not be right for another, depending on your timeline, how long you plan to stay in your home, and your comfort level with payment changes down the road. If you've never had someone walk you through how these actually differ in practice, it's worth a conversation. I can help you understand which structure makes sense for your situation.

Let's talk about which loan program fits your plans best.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Jim Booher

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