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Mortgage Market Update
Paige Lott
Paige Lott
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 through one of the most important choices you'll make when getting a mortgage—and it's not always obvious which path is right for 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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Loan Programs
Fixed vs. adjustable: which fits your plan?
When you're shopping for a mortgage, one of the biggest decisions is whether to lock in a fixed rate for the life of the loan or go with an adjustable rate that starts lower but can change over time. There's no universal right answer—it depends on how long you plan to stay in your home, how comfortable you are with payment uncertainty, and what the current rate environment looks like. A fixed rate gives you stability and peace of mind. An adjustable rate can mean lower initial payments, but it carries risk if rates climb later. I've helped borrowers make this choice by walking through their actual timeline and comfort level. Let's talk about which approach makes sense for your situation. Reach out and we can compare how each option might work for you.
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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 Paige Lott team any time and we'll walk you through your options. |
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