|
Mortgage Market Update
Daniel Bellomy
Daniel Bellomy
Saturday, October 31, 2026
|
Which loan program is right for you? |
|
Hi—this week I want to clear up something I hear about a lot: the idea that all mortgages are basically the same. They're really not.
|
|
National Mortgage Rates · October 29, 2026
|
Conventional 30-Year
7.15%
|
|
| |
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%233b5bdb%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
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.
|
|
|
|
Loan Programs
When a conventional loan isn't your only option
I talk to a lot of people who assume there's only one type of mortgage out there. The truth is, lenders offer several loan programs, each designed for different situations. Some borrowers qualify for conventional loans; others find a better fit with government-backed programs that may require less down or have different credit guidelines. The program that works best for you depends on your down payment, credit history, income, and the property itself. A pre-approval conversation isn't just about rates—it's about finding the right structure for your specific circumstances. That clarity early on can make the whole process smoother. If you're curious about what programs you might qualify for, let's talk through your situation.
|
|
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.
|
|
Tips for Homeowners
Co-Signing a Mortgage: What You're Really Agreeing To
|
|
1.
|
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.
|
|
2.
|
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.
|
|
3.
|
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.
|
|
|
Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Daniel Bellomy team any time and we'll walk you through your options. |
|
|
You are receiving this from Daniel Bellomy. Unsubscribe
|