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Mortgage Market Update
Gaston Garrido
Gaston Garrido
Tuesday, November 3, 2026
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What kind of mortgage do you actually have? |
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I talk with homeowners every week who realize they're not sure what type of loan they're carrying. That's more common than you'd think.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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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 when rates shift
When interest rates move, not all mortgages feel the same impact. A fixed-rate loan gives you predictability—your payment stays the same for the life of the loan, no matter what happens in the market. An adjustable-rate mortgage, on the other hand, starts with a lower initial rate but can change after a set period, which means your payment could go up later. Understanding which program you're in (or which might suit you) helps you plan confidently. If you're curious whether your current loan is working for your situation, or if a different program might give you better long-term peace of mind, I'd love to walk through your options with you. Reach out if you'd like to review your loan and explore what makes sense 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 Gaston Garrido team any time and we'll walk you through your options. |
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