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Mortgage Market Update
Joshua Switzer
Joshua Switzer
Saturday, October 31, 2026
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Shopping around actually pays off |
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Hello—this week I want to talk about something that saves people real money but often gets skipped: taking time to compare offers from different lenders.
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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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Lender Shopping
Why getting quotes from multiple lenders matters
When you're ready to buy or refinance, it's tempting to stop at the first lender who says yes. But a quick comparison across a few options can reveal real differences in what you'll pay over time. Different lenders price their loans differently—not just on interest rate, but on fees, closing costs, and the programs they offer. Spending an hour gathering quotes from three or four places costs you nothing and gives you actual data to make the best choice for your situation. I always tell people: you wouldn't buy a car from the first dealership you visit. Your mortgage deserves the same care. Let's talk about what a comparison might look like 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 Joshua Switzer team any time and we'll walk you through your options. |
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