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Mortgage Market Update
My Mortgage Company
Sandra Johnson
Tuesday, November 3, 2026
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Picking the right mortgage type matters |
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Hi there. One of the biggest decisions in a mortgage isn't just the rate—it's the loan program itself.
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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
Not all mortgages work the same way
When you're shopping for a mortgage—whether you're buying or refinancing—the interest rate gets most of the attention. But the loan program you choose matters just as much. Fixed-rate mortgages lock in your rate for the life of the loan, so your payment stays the same. Adjustable-rate mortgages start lower but can change over time. Some programs let you put down less money upfront. Others are built for specific situations, like VA loans or FHA loans for first-time buyers. The right program depends on your timeline, comfort level with risk, and long-term plans for the home. I'd love to walk you through which programs might make sense for your situation. Let's talk about which loan program fits your goals.
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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
Sandra Johnson
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