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Mortgage Market Update
Jameel Batshon
Jameel Batshon
Tuesday, November 3, 2026
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Why your rate isn't the same as theirs |
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Rates move, but so do the factors that determine what rate you'll actually get. Here's what homeowners ask me most about this.
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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 Environment
Why your neighbor's rate might differ from yours
If you've talked to someone else about their mortgage rate recently, you may have noticed yours doesn't match. That's normal — and there are real reasons why. Your rate depends on your credit profile, down payment, loan type, property type, and how long you lock in your rate. Even small differences in any of these factors can shift what lenders offer you. This is why getting pre-approved gives you clarity on your actual numbers, not just a ballpark figure. I always tell people: don't assume your rate will be someone else's rate. Understanding what moves your own rate — and what you can control — helps you make smarter decisions about timing and loan structure. Let's talk about what rate environment means for your specific 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 Jameel Batshon team any time and we'll walk you through your options. |
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