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Mortgage Market Update
Jason Erickson
Jason Erickson
Saturday, October 31, 2026
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Fixed or adjustable—which one fits you? |
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Hi there. This week I want to break down one of the most important decisions you'll make when getting 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 Options
Fixed or adjustable: which fits your situation?
When you're shopping for a mortgage, one of the biggest choices you'll make is the structure of your loan. A fixed-rate mortgage keeps your payment stable for the entire loan term—predictable and reliable. An adjustable-rate mortgage might start lower, but your payment can change over time as market conditions shift. Neither is inherently "better"—it depends on how long you plan to stay in the home, your comfort with payment changes, and what makes sense for your budget. I help borrowers think through this choice based on their actual circumstances, not just today's rates. If you're not sure which direction makes sense for you, let's talk it through. Reach out if you'd like to explore which loan structure aligns with 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 Jason Erickson team any time and we'll walk you through your options. |
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