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Mortgage Market Update
Eric Maza
Eric Maza
Saturday, October 31, 2026
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Approved for a loan doesn't mean you should take it |
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Hi there. This week I want to talk about one of the most important numbers in your home buying journey—and it's not the one the bank tells you.
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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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Affordability Math
Your budget is personal—here's why
I talk to a lot of people who feel pressured to borrow the maximum they qualify for. The truth is that qualifying for a loan and comfortably affording one are two different things. A lender's approval is based on income and debt ratios, but only you know your actual lifestyle, job security, and how much breathing room you need in your monthly budget. The right loan size is the one that lets you sleep at night—not the biggest one the numbers allow. Before you commit to any mortgage, take an honest look at what payment feels sustainable for your situation, not just what's technically possible. If you'd like to talk through what a realistic budget looks like for you, I'm here to help.
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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 Eric Maza team any time and we'll walk you through your options. |
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