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Mortgage Market Update
Brandon Palmer
Brandon Palmer
Saturday, October 31, 2026
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Your mortgage payment might shift soon |
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Thinking about what's coming down the road with your mortgage? Let's talk about one thing many borrowers don't see coming.
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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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Affordability & Rates
When your payment changes without refinancing
If you have an adjustable-rate mortgage, or if your property taxes and insurance are bundled into your monthly payment, you already know this: your mortgage bill can shift even when you do nothing. Rates adjusting upward, tax reassessments, insurance premium increases—they all add up fast. The good news is that understanding what's happening gives you options. You might refinance into a fixed rate for stability. You might pay down principal to lower what you owe. Or you might simply budget for the change ahead of time. The key is not being surprised. If you're unsure whether your payment could move in the coming months, that's worth a conversation. I'm happy to walk through what your loan looks like and what to expect. Reach out if you'd like to review your mortgage structure and see what changes might be on the horizon.
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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 Brandon Palmer team any time and we'll walk you through your options. |
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