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Mortgage Market Update
Reyna Villegas
Reyna Villegas
Saturday, October 31, 2026
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Picking the right loan type for your situation |
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Hi there. One of the most important decisions in your mortgage journey isn't always the loudest one in the room.
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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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Mortgage Basics
Why your loan type matters more than you think
Most people focus on interest rates when they're shopping for a mortgage, and I get it—that number catches your eye. But the type of loan you choose shapes your entire financial picture for years. Fixed-rate mortgages lock in the same payment forever, which means predictability and peace of mind. Adjustable-rate loans might start lower but can change over time. FHA, conventional, VA, USDA—each has different rules about down payments, credit scores, and who qualifies. The right program for your neighbor might not be the right one for you. It's worth understanding what's actually available to you and how each option would work with your situation. I'm here to walk through the differences and help you pick the one that fits. Let's talk about which loan program makes sense 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 Reyna Villegas team any time and we'll walk you through your options. |
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