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Mortgage Market Update
Egan O'Brien
Saturday, October 31, 2026
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When life changes, your mortgage might too |
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Hi there,
One thing I've learned talking with homeowners: people's lives and budgets don't stay still for long.
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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 Signals
When your budget shifts, your mortgage options might too
Life changes fast. A raise, a job move, a family addition, or even a shift in what you're spending month to month can all change what you can actually afford in a home. The good news: if your financial picture has improved since you bought or last refinanced, you may have more options than you realize. Better income or lower debts can open doors to different loan programs, potentially better terms, or the ability to borrow more for a home you actually want. On the flip side, if money's tighter, we can talk through what makes sense for your situation. The point is, your mortgage isn't fixed in stone. It's worth revisiting when your life does. If your situation has changed, let's walk through what's possible for you.
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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 Egan O'Brien team any time and we'll walk you through your options. |
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