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Tuesday, November 3, 2026 |
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Mortgage Market Update
When rates drop, what's your move?
Mortgage rates shift all the time. I want to make sure you understand what those moves actually mean for your home and your wallet.
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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
What actually happens when rates drop
When mortgage rates move lower, you have options — and it's worth understanding them. You could refinance to a new loan at the better rate, which typically makes sense if you plan to stay in your home long enough to recoup the closing costs. Or you might simply keep your current loan and watch your home's value potentially increase as the market responds. Some people use lower rates as a reason to revisit their budget: maybe now is the time to tackle a renovation or take cash out for another goal. The key is knowing what's actually available to you and whether any move makes sense for your situation. If you'd like to explore what a rate change means for your specific loan, I'm here to walk through it.
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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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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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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 Connie Oller team any time and we'll walk you through your options.
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30 S 7th Ave, Brighton CO 80601
303-717-3223
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