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Mortgage Market Update
Jamie Thibodeau
Jamie Thibodeau
Monday, November 2, 2026
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One mortgage type isn't right for everyone |
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Not every borrower needs the same loan. This week, let's talk about why choosing the right program matters as much as the rate itself.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15%
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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
What loan program actually fits your situation
Most people think there's one mortgage option—but there isn't. Depending on your down payment, credit history, income, and how long you plan to stay in your home, different loan programs can work better or worse for you. Some programs let you put down less upfront. Others offer built-in flexibility if rates drop later. Some forgive a portion of your loan under specific circumstances. The wrong program might cost you thousands over time, or lock you into something too rigid for your life. It's worth understanding which one makes sense for you, not just which one you qualify for. Let's talk about which program aligns with your actual financial picture.
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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 Jamie Thibodeau team any time and we'll walk you through your options. |
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