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Mortgage Market Update
Your Lender Erin
Xpert Home Lending
Tuesday, November 3, 2026
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Should you lock in a fixed rate or start lower? |
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Hi there—I'm breaking down one of the most important loan decisions you'll make, and it's simpler than you might 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 Program Guide
Fixed vs. adjustable: which type fits your plan?
One of the biggest decisions in a mortgage isn't just the rate—it's the structure of the loan itself. A fixed-rate mortgage keeps the same rate and payment for the entire life of the loan, giving you predictability and peace of mind. An adjustable-rate mortgage typically starts lower but can change after an initial period, which might make sense if you plan to sell or refinance before that adjustment happens. Neither is automatically better; it depends on your timeline, risk comfort, and how long you think you'll stay in the home. Understanding the trade-offs helps you choose the loan that actually matches your life, not just the lowest starting number. I'm happy to walk through the pros and cons of each option for your situation.
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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 Your Lender Erin team any time and we'll walk you through your options. |
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5103046216 | www.yourlendererin.com
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