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Mortgage Market Update
James S Boggs
James S Boggs
Saturday, October 31, 2026
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Fixed vs. adjustable: which makes sense for you |
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Every borrower faces the same choice early in the mortgage process, and it's worth understanding before you decide. Here's what you need to know.
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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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Loan Programs
Choosing between fixed and adjustable rates
One of the biggest decisions you'll make on a mortgage is whether to lock in a fixed rate or start with an adjustable one. A fixed rate stays the same for the entire loan—predictable payments, peace of mind, and protection if rates climb. An adjustable rate typically starts lower, which can mean smaller initial payments, but it can move up after an initial period. The right choice depends on your comfort level with uncertainty, how long you plan to stay in the home, and what the rate environment looks like right now. There's no universal "better" option—it comes down to your situation. I'd love to walk through both scenarios with you and help you figure out which makes sense 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 James S Boggs team any time and we'll walk you through your options. |
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2701 East Insight Way, Suite 150, Chandler, AZ 85286
210-378-5189 | https://www.barrettfinancial.com/jboggs
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