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Mortgage Market Update
Cory Williams
Cory Williams
Tuesday, November 3, 2026
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The loan term choice that changes everything |
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Hi there. This week I want to talk about something that doesn't always get the spotlight, but absolutely should.
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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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Mortgage Basics
Why your loan term matters more than you think
When you're shopping for a mortgage, the interest rate grabs all the attention—but your loan term is just as important. The length of your loan affects not just your monthly payment, but how much interest you'll pay over time and how quickly you build equity in your home. Different terms work for different situations, and there's no one-size-fits-all answer. Some borrowers prioritize lower monthly payments; others want to pay off their home faster. Understanding how term choice aligns with your goals and timeline is one of the smartest moves you can make before locking in a loan. I'd love to walk you through how different terms could look in your situation. Let's talk about which loan term 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 Cory Williams team any time and we'll walk you through your options. |
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