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Mortgage Market Update
Matt Orange
Matt Orange
Saturday, October 31, 2026
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Choosing the right type of mortgage |
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Hi there. A lot of borrowers focus on rates and payments, but the type of loan you pick matters just as much. Here's why.
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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 Basics
Why your loan type matters more than you think
Not all mortgages are created equal. The type of loan you choose—fixed-rate, adjustable, conventional, or government-backed—shapes your monthly payment, how much you'll pay over time, and how protected you are if rates move. Some borrowers lock in stability with a fixed rate. Others choose an adjustable rate when they plan to move or refinance before rates adjust. The right choice depends on your timeline, comfort with risk, and financial goals. It's worth understanding what you're signing up for, not just accepting the first option presented to you. I'm happy to walk through how each program works and which might align with your situation. Let's talk about which loan structure makes the most sense for your plans.
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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 Matt Orange team any time and we'll walk you through your options. |
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