Mortgage Market Update

Kristopher McCury

Kristopher McCurry

Saturday, October 31, 2026

Loan types and what they mean for you

Every mortgage isn't the same—and that matters. This week I want to break down why your loan structure is just as important as your interest rate.

National Mortgage Rates · October 29, 2026

Conventional 30-Year

7.15%

FHA 30-Year

7.04%

VA 30-Year

6.79%

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.

Loan Programs

Not all mortgages are built the same

When you're ready to buy or refinance, the type of loan you choose matters as much as the rate itself. A fixed-rate mortgage keeps your payment steady for the life of the loan—predictability that helps with budgeting. An adjustable-rate mortgage might start lower, but your payment can change over time. Then there are programs designed for specific situations: VA loans, FHA loans, jumbo mortgages for higher-priced homes, and more. Each one has different rules, benefits, and trade-offs. The right choice depends on how long you plan to stay in your home, your comfort with payment changes, and what you qualify for. I can walk you through the options and help you understand which structure makes the most sense for your situation.

Let's talk about which loan program is the best fit for you.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Kristopher McCury team any time and we'll walk you through your options.

Your Mortgage Advisor

Kristopher McCury

Kristopher McCurry

krism@barrettfinancial.com

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