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Mortgage Market Update
My Mortgage Company
Amy Libonate
Tuesday, November 3, 2026
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Which mortgage is right for you? |
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I work with borrowers who are honest about their finances and their goals. This week, I want to help you sort through the loan programs available to you.
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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
Which loan type actually fits your situation
Not all mortgages are created equal, and the right one depends on your timeline, comfort level, and financial picture. A 30-year fixed gives you stability and predictable payments over decades. A 15-year accelerates your payoff and builds equity faster, though your monthly payment is higher. Adjustable-rate loans start lower but can shift over time. Government-backed programs (FHA, VA, USDA) open doors for buyers who might not qualify elsewhere. The program that works for your neighbor might not work for you—and that's okay. I'd love to walk through your options and help you find the fit that actually makes sense for your goals. Let's talk about which loan program aligns with where you are and where you want to be.
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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
Amy Libonate
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