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Mortgage Market Update
Jennifer Clemens
Clemens Mortgage Group, LLC
Friday, October 30, 2026
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Why your mortgage type matters more than you think |
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A Note From Jennifer Clemens
Happy Friday! 😎
Mortgage rates saw some pressure this week as markets reacted to ongoing global tensions and economic uncertainty. This afternoon, bond markets sold off after the Trump/Xi summit wrapped up with little progress toward easing concerns overseas, pushing Treasury yields to their highest levels since May 2025.
Temporary rate buy-downs continue to be a hot topic and help buyer's ease into their mortgage payment. Seller concessions, rate buy downs, bridge loans and strategy conversations can make a huge difference.
Also - We can now offer VantageScore options on certain loan programs in addition to traditional FICO scoring. This could be a game changer for some buyers and may even help save deals that previously may not have qualified. 🙌
If you need help running numbers or navigating a tricky scenario, I’m always just a text away!
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There's more to choosing a mortgage than just finding a rate. The type of loan you pick shapes your entire borrowing experience.
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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 your loan type means for your wallet
Not all mortgages work the same way, and the one you choose affects how much you pay over time. Fixed-rate loans lock in your payment forever—predictable and straightforward. Adjustable-rate mortgages start lower but can change after an initial period. Government-backed loans (FHA, VA, USDA) often let borrowers qualify with less money down or a lower credit score than conventional loans, but come with their own rules. The right choice depends on how long you plan to stay, your comfort with risk, and what you can afford today. I'd be happy to walk you through how each type works and which might fit your situation.
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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 Jennifer Clemens team any time and we'll walk you through your options. |
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602-214-9048 | https://clemensmortgagegroup.com/
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