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Mortgage Market Update
My Mortgage Company
Kaleb Melville — Kaleb Melville
Saturday, October 31, 2026
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Fixed or adjustable—which fits your plan? |
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One of the biggest decisions in getting a mortgage isn't about the rate itself—it's about how that rate behaves. Here's what you should 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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Fixed vs. Adjustable
Why your loan structure matters more than you think
When you're comparing loan options, the interest rate gets all the attention—but how that rate works is equally important. Some loans lock in the same rate for the entire loan term, while others start lower but can change over time. The choice between these structures affects not just your payment today, but your financial peace of mind down the road. If you plan to stay in your home long-term, stability might be worth more to you than a lower starting number. If you're thinking shorter-term, a different structure could work in your favor. The right answer depends on your situation, your timeline, and how much uncertainty you're comfortable with. I'd be happy to walk through how each option would actually look for you. Let's talk through which loan structure makes sense 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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Kaleb Melville — Kaleb Melville
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