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Mortgage Market Update
Ryan Nelson
Barrett Financial Group
Tuesday, November 3, 2026
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What your mortgage type really means for you |
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Every mortgage is built differently, and the type you choose—or already have—shapes how you pay for years to come. Here's what to think about.
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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
Your loan type shapes your whole mortgage story
Not all mortgages work the same way. Fixed-rate loans lock in your rate for the life of the loan, so your payment never changes—that predictability matters when you're budgeting over decades. Adjustable-rate loans start lower but can shift over time. Government-backed programs like FHA or VA loans have their own rules and benefits. And cash-out refinancing lets you tap your home's equity for other needs. The right choice depends on your timeline, how long you plan to stay, and what kind of stability matters to you. It's worth taking a closer look at what you're actually signed up for, or what might work better if you're thinking about a new loan.
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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 Ryan Nelson team any time and we'll walk you through your options. |
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2701 E Insight Way Suite 150 Chandler, AZ 85286
NMLS# 211828 · Company NMLS# 181106
480-861-7841 | https://ryannelson.theradcrm.com/
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