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Mortgage Market Update
Kurt Kessler
Kurt Kessler
Saturday, October 31, 2026
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Which mortgage type is right for you? |
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Hi there. This week I want to circle back to something that gets overlooked in rate conversations—the actual structure of your loan.
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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
Most people focus on interest rates when shopping for a mortgage, but the type of loan you choose shapes your entire borrowing experience. A fixed-rate loan locks in predictability—your payment stays the same for the life of the loan, which makes budgeting straightforward. An adjustable-rate loan may start lower but can change over time, which means your payment could go up or down depending on market conditions. Then there are specialized programs designed for specific situations: first-time buyers, military families, rural properties, or lower down payments. The right choice depends on how long you plan to stay in your home, your comfort with payment changes, and your financial goals. I'd love to walk you through what makes sense for your situation. Let's talk about which loan type fits your plans best.
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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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