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Mortgage Market Update
John Kunkel
John Kunkel
Saturday, October 31, 2026
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Which type of mortgage is right for you? |
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Everyone's financial picture is different, and that matters when it comes to choosing a home loan. Here's why the type of mortgage you pick can be just as important as the rate itself.
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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 Programs
Not all mortgages work the same way
When you're shopping for a home or thinking about refinancing, the interest rate gets most of the attention. But the type of loan you choose matters just as much. Fixed-rate mortgages, adjustable-rate mortgages, FHA loans, conventional loans—each one has different rules about down payments, how your rate behaves over time, and what kind of borrower it's designed for. The right program for your neighbor might not be right for you. That's why it's worth having a conversation about which loan structure actually fits your situation, your timeline, and your comfort level. I'm here to walk you through the options and help you see which one makes sense. Let's talk through which loan program could be the best fit for where you are right now.
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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 John Kunkel team any time and we'll walk you through your options. |
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