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Mortgage Market Update
My Mortgage Company
Kate Kippenberger — Kate Kippenberger
Saturday, October 31, 2026
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Your loan might not fit forever |
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Hello,
Sometimes the best loan program for right now isn't the one you picked back then. Here's what matters to know.
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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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Loan Program Fit
When to switch loan types
Your mortgage doesn't have to stay the same forever. If you started with an adjustable rate and now want predictability, or if a longer-term loan would ease your monthly budget, moving to a different program might make sense. Life changes—job stability improves, market conditions shift, your goals evolve. The right program for you five years ago may not be the right one today. Some borrowers find real value in revisiting their loan structure when their circumstances improve or when they want to simplify their finances. It's worth a conversation to see what's available to you now. Reach out anytime you're curious whether a different loan program could work better for your situation.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Kate Kippenberger — Kate Kippenberger
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