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A Note From Cory Hoag
Cory & Crew Updating You!
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THIS WEEK
When rates move, here's what changes
Hi there. Each week I'm sharing something I think matters to homeowners and buyers in your position. This week: how to think about rates and payments.
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RATE SNAPSHOT · October 29, 2026
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CONVENTIONAL 30-YR
7.15%
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FHA 30-YR
7.04%
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VA 30-YR
6.79%
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Source: Optimal Blue daily mortgage indices via FRED · Informational only
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Affordability Check
What happens to your payment when rates move
Interest rates shift all the time, and it's worth understanding how those shifts affect you. When rates go up, your monthly payment goes up on a new loan or refinance. When they go down, payments can come down too. This matters whether you're thinking about buying soon, refinancing an existing mortgage, or just curious about your options. The relationship between rate changes and payment changes is straightforward once you see it — and it helps you make smarter decisions about timing and loan choices. If you've wondered how rate movement translates to your wallet, I'm happy to walk through it with 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 Cory Hoag team any time and we'll walk you through your options.
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