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Mortgage Market Update
Chris Ristau
E3 Home Loans
Saturday, October 31, 2026
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When your rate changes, you have choices |
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Life with a mortgage brings decisions big and small. This week I want to walk you through one that catches some borrowers by surprise.
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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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Smart Money
What to do when your rate adjusts
If you have an adjustable-rate loan, you already know that your rate and payment can change over time. When an adjustment happens, it's easy to feel caught off guard. The good news: you have options, and knowing them ahead of time makes all the difference. You might refinance into a fixed rate, make a larger payment to pay down principal faster, or simply adjust your budget. The key is not to ignore the notice when it arrives. Reach out to me before your rate adjusts so we can talk through what makes sense for your situation and your finances. Let's talk about your loan options before anything changes.
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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 Chris Ristau team any time and we'll walk you through your options. |
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