Mortgage Market Update

Andrew King

Tuesday, November 3, 2026

The closing cost conversation nobody wants to skip

Hi there — I want to talk about something that matters more than most people realize when they're buying or refinancing a home.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Closing Costs

What you're actually paying at closing

One of the biggest surprises for borrowers happens at the closing table — not because of hidden fees, but because closing costs are easy to overlook until they're staring you in the face. These are the real, legitimate expenses that transfer a home: title insurance, appraisals, inspections, taxes, homeowners insurance, and lender charges. They add up fast, and knowing what to expect removes the shock. The good news is that most closing costs are negotiable or sometimes absorbed by the seller, depending on your market and offer. I always recommend asking for a detailed estimate early so you can budget and compare. Understanding these costs upfront also helps you decide whether to roll them into your loan or pay them out of pocket — each choice has trade-offs worth discussing.

Let's walk through what your closing costs might look like for your situation.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Andrew King team any time and we'll walk you through your options.

Your Mortgage Advisor

Andrew King

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