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Mortgage Market Update
Keila Nelson
Keila Nelson
Saturday, October 31, 2026
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Your finances have changed since then |
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Hi there. Every few months, I check in with clients because life rarely stands still. Here's what I'm thinking about this week.
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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 Shifts
When your payment budget changes, your options do too
Life happens. A raise, a job change, unexpected expenses—your financial picture today might look different from last year. If your situation has shifted, it's worth knowing that your mortgage options may have shifted with it. A stronger income might open doors to better loan terms. A tighter budget might make a refinance worth exploring, or reveal equity you could tap if needed. The point is, you don't have to live with a mortgage decision made under old circumstances. I'd rather you know what's possible now than wonder what you missed.
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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 Keila Nelson team any time and we'll walk you through your options. |
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