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Mortgage Market Update
Kurt Kessler
Kurt Kessler
Saturday, October 31, 2026
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Why your payment might not budge |
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Hi there. This week I want to clear up something that comes up in conversations all the time—and it's worth understanding, whether you're a new homeowner or thinking about your next move.
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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 payment stays the same (even when rates move)
One question I hear a lot: if rates go up or down, does my monthly payment change? The answer depends on your loan type. With a fixed-rate mortgage, your payment is locked in from day one—rate changes in the market don't touch it. With an adjustable-rate loan, your payment can shift when the rate adjusts, usually after an initial fixed period. Understanding which you have matters, especially if you're thinking about your long-term budget. If you're unsure what type of loan you carry, or you're curious whether your current setup still makes sense for your situation, I'm happy to walk through it with you. Reach out anytime if you'd like to review your loan and talk through what makes sense for your future.
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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 Kurt Kessler team any time and we'll walk you through your options. |
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