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Mortgage Market Update
Mayra Stewart
Mayra Stewart
Saturday, October 31, 2026
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Fixed rate vs. ARM: what you need to know |
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Understanding your loan options is one of the smartest things you can do when you're shopping for a mortgage or thinking about a refinance. Here's what matters most.
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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 Program Basics
Fixed vs. adjustable: which one works for your situation
When you're shopping for a mortgage, one of the first decisions you'll face is whether to lock in a fixed rate for the life of your loan or go with an adjustable rate that starts lower but can change over time. There's no universally right answer—it depends on your plans, your comfort level with payment changes, and where rates are today. Fixed-rate mortgages give you predictability and peace of mind. Adjustable-rate loans may offer a lower starting rate if you're planning to sell or refinance before the rate adjusts. I help borrowers think through both sides so they choose the structure that actually fits their life, not just the lowest number on day one. Let's talk through which mortgage structure makes the most sense for you and your timeline.
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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 Mayra Stewart team any time and we'll walk you through your options. |
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