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Mortgage Market Update
Lester Marcano
Lester Marcano
Saturday, October 31, 2026
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Fixed or adjustable—which fits you? |
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One of the most important decisions in a mortgage comes down to a simple question: do you want your rate to stay the same, or are you willing to take on some change? Here's what you need to know.
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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
Fixed vs. adjustable: which one fits your plan?
When you're shopping for a mortgage, one of the biggest choices is whether to lock in a fixed rate for the life of your loan or start with an adjustable rate that changes over time. Fixed-rate mortgages give you predictability—your payment stays the same month after month, year after year. Adjustable-rate mortgages often start lower, which can mean a smaller payment early on, but they can rise later. The right choice depends on how long you plan to stay in your home, your comfort with payment changes, and where rates are headed. Both are legitimate options; the key is understanding which aligns with your financial situation and peace of mind. If you're weighing these options or aren't sure which makes sense for you, I'd love to walk you through the trade-offs. Let's talk about which loan structure works best for your goals.
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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 Lester Marcano team any time and we'll walk you through your options. |
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