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Mortgage Market Update
Caitlin Garner
Caitlin Garner
Tuesday, November 3, 2026
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Picking the right loan type (not just the rate) |
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Hi there. This week I want to cover something that doesn't get enough attention when people are house hunting.
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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 type matters more than you think
When you're shopping for a mortgage, it's easy to fixate on the interest rate—but the kind of loan you choose shapes your entire financial picture. A fixed-rate mortgage keeps your payment stable for decades. An adjustable-rate mortgage might start lower but can change over time. Some programs let you put down less money upfront; others have stricter rules. Each one has real tradeoffs that only make sense if they fit your situation: how long you plan to stay, your risk tolerance, and what you can comfortably afford. The best rate in the world won't help if you picked the wrong loan structure. I'd love to walk through your options and help you land on the one that actually works for your life. Let's talk about which loan type makes the most sense for 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 Caitlin Garner team any time and we'll walk you through your options. |
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