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Mortgage Market Update
Alan Thain
Alan Thain
Tuesday, November 3, 2026
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Rate shifts—and why you should notice |
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Hi there. Mortgage rates don't stay put for long, and when they move, it's worth taking a fresh look at your options.
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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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Rate Movement
When rates drop, your options change
Interest rates move all the time, and even a small shift can open up new possibilities for your mortgage. If rates have come down since you locked in your loan, you might suddenly qualify for a refinance that wasn't worth it before. If rates have climbed, you may want to lock in sooner rather than later if you're in the market. The point is that rate movement isn't just a number on a screen—it's a signal to check in on your situation and see what's actually available to you right now. Your financial picture is unique, so the move that makes sense for someone else might not make sense for you. That's why I'd rather have you reach out with questions than wonder in silence. Let me know if you'd like to review where rates stand and what that means for your next move.
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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 Alan Thain team any time and we'll walk you through your options. |
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