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Mortgage Market Update
My Mortgage Company
Joseph Cowart — Joseph Cowart
Saturday, October 31, 2026
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Fixed or adjustable—what's the difference? |
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Hi there. This week I want to walk you through one of the core decisions that shapes your whole 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 Comparison
Fixed vs. adjustable: which fits your plan?
One of the first decisions you'll make 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 offer predictability—your payment stays the same for 15, 20, or 30 years, which makes budgeting easier and protects you if rates climb. Adjustable-rate mortgages sometimes start lower, but your payment can increase later, which works better if you're planning to sell or refinance before the rate adjusts. The right choice depends on how long you'll stay in the home, your comfort with payment changes, and your financial goals. Neither is automatically better—it's about what matches your situation. Let's talk through which structure makes sense for your timeline and budget.
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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
Joseph Cowart — Joseph Cowart
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