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Mortgage Market Update
My Mortgage Company
Amy Libonate
Tuesday, November 3, 2026
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Picking the right loan type matters more than you'd think |
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Hi there. One of the most important decisions in a mortgage isn't always the most obvious one.
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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 are built the same
When you're shopping for a loan, it's easy to focus only on the interest rate. But the type of mortgage you choose matters just as much. Some programs offer flexibility if life changes—like the ability to pause payments or adjust your term. Others are designed to keep your costs predictable from day one. The right fit depends on your situation: how long you plan to stay in the home, whether your income is stable, and what kind of monthly certainty you need. I've seen borrowers save thousands not by chasing the lowest rate, but by choosing a program that actually works with their life. Let's talk about which options make sense for you. Reach out and we can walk through what's available.
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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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