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Mortgage Market Update
Kevin Lyons
Kevin N Lyons
Monday, November 2, 2026
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Fixed or adjustable: which loan fits you |
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One of the biggest decisions in getting a mortgage isn't about rates or lenders—it's about the structure of the loan itself. Let me explain what I mean.
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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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Fixed vs. Adjustable
Why your loan type matters when rates shift
When I talk with borrowers about their mortgage, the choice between a fixed-rate loan and an adjustable-rate loan often comes down to one thing: certainty versus risk. A fixed rate means your payment stays the same for the life of the loan, no matter what happens in the market. An adjustable rate typically starts lower but can change over time, which means your payment could go up—or down. Neither is always "right," but understanding how each one responds to a changing rate environment helps you pick what fits your situation. If rate stability matters to your budget and peace of mind, fixed is usually the way to go. If you're planning to sell or refinance before an adjustment period kicks in, adjustable can work. The key is knowing which one aligns with your timeline and risk tolerance. I'd love to walk through your options and help you choose the loan type that makes sense for you. Let's talk about which loan structure works best for your goals.
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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 Kevin Lyons team any time and we'll walk you through your options. |
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