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Mortgage Market Update
Johnathan Lee
Johnathan Lee
Saturday, October 31, 2026
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Fixed or adjustable: which is right for you? |
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Hey there. This week I want to tackle one of the most important—and most overlooked—pieces of choosing a mortgage.
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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 Fit
Fixed or adjustable: which loan makes sense for you
When you're shopping for a mortgage, the interest rate gets most of the attention. But the type of loan you choose matters just as much. A fixed-rate mortgage keeps your payment the same for the entire life of the loan—predictable and stable. An adjustable-rate mortgage typically starts lower but can change over time, which means your payment could go up (or down). Neither is automatically better; it depends on your timeline, risk comfort, and plans for the home. If you think you'll stay put for years and want payment certainty, fixed is often the safer choice. If you're planning to move or refinance within a few years, an adjustable rate might work. Let's talk through what fits your situation. I'm happy to walk you through the pros and cons of each so you pick the right fit.
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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 Johnathan Lee team any time and we'll walk you through your options. |
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