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Mortgage Market Update
Evelyn Morgan
Keyway Lending powered by Edge Home Finance
Saturday, October 31, 2026
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What type of loan actually works for you |
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Every borrower's circumstances are different, and there's no one-size-fits-all mortgage. Let me explain why picking the right loan type is one of the most important decisions you'll make.
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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 Programs
Why your loan type matters more than you think
Not all mortgages work the same way. A fixed-rate loan locks in your payment forever, which is stable and predictable. An adjustable-rate mortgage might start lower but can change, which appeals to some borrowers in certain situations. Then there are programs designed for specific buyers—VA loans for military, FHA loans for those putting down less, USDA loans in rural areas. The right fit depends on your timeline, risk tolerance, and what you can afford today and tomorrow. If you're uncertain which program makes sense for your goals, I'd like to walk through the options with you. Let's talk about which loan program fits your situation best.
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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 Evelyn Morgan team any time and we'll walk you through your options. |
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