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Mortgage Market Update
Erez Shimoni
Erez Shimoni
Sunday, November 1, 2026
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Mortgage Market Update — November 1 |
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This week brought some encouraging signals about where mortgage rates are heading, plus fresh data on home sales and prices. We've picked out the stories that matter most to your wallet and your timeline.
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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 Basics
Why your loan type matters more than you think
Not all mortgages work the same way, and the one that's right for you depends on your situation, not just the rate. Fixed-rate loans lock in your payment forever—great peace of mind if you plan to stay put. Adjustable-rate options can start lower, but your payment can change down the road. Then there are programs designed for first-time buyers, or ones that work better if you have a smaller down payment or are self-employed. I see borrowers sometimes choose a loan because they heard about it from a friend, but the best fit is really about matching the loan to your timeline and comfort level. If you're not sure your current loan is still working for you, or if you're shopping and want to understand the real tradeoffs, I'm happy 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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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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HousingWire
Click the link below to read the full article.
| Key takeaway: if you've been waiting for rates to move in your favor, now might be the time to get serious about your timeline. |
Read full article →
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Mortgage News Daily
New home sales barely dipped in September, showing the strong recovery from August is holding firm. This suggests builder confidence remains solid and there's still good inventory of new homes hitting the market.
| Key takeaway: steady sales activity is good news if you're shopping for new construction, as it means builders aren't desperate to move inventory. |
Read full article →
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Redfin
After years of steady appreciation, U.S. home prices have finally started to decline. This marks a meaningful shift in the market and could improve affordability in many areas.
| Key takeaway: price declines create opportunities for buyers, especially in markets where prices had climbed the highest. |
Read full article →
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Mortgage News Daily
Housing starts dropped and single-family building permits pulled back in September, signaling slower construction activity. While completions edged higher, the overall trend suggests fewer new homes are entering the pipeline.
| Key takeaway: slower construction could eventually mean tighter inventory, so if you're interested in new construction, don't wait too long. |
Read full article →
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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 Erez Shimoni team any time and we'll walk you through your options. |
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6 Wills Way, Piscataway, NJ 08854
908-705-5882 | www.applywitherez.com
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