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Mortgage Market Update
Andrew King
Andrew King
Saturday, October 31, 2026
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Fixed or adjustable—which is right for you? |
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Hi there. As we head into the final stretch of the month, I wanted to circle back to one of the biggest decisions you'll make: the type of mortgage that works for your life.
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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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Mortgage Basics
Why your loan type matters more than you think
When you're shopping for a mortgage, it's easy to focus on interest rates and monthly payments. But the type of loan you choose—fixed-rate versus adjustable, conventional versus government-backed—shapes your financial life for years. Each has trade-offs. A fixed rate locks in predictability; an adjustable rate might start lower but can change. Some programs require less down; others offer better terms with more cash upfront. The right choice depends on your timeline, risk tolerance, and plans for the home. I've helped plenty of borrowers pick the wrong program because they didn't understand these differences until it was too late. Let's talk through what makes sense for your situation. Reach out, and we can walk through which loan structure fits 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 Andrew King team any time and we'll walk you through your options. |
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