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Mortgage Market Update
My Mortgage Company
Lindsey Carioti
Tuesday, November 3, 2026
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Don't lock your rate yet (here's why) |
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There's a common misconception about rate locks—that sooner is always better. This week I want to walk through what actually matters when you're deciding when to pull the trigger.
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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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Locked Rate Strategy
Why locking your rate too early can cost you
When rates start moving in your favor, the instinct to lock immediately feels smart—but timing matters more than you might think. Lock too early and you could miss better rates that come later. Wait too long and you risk rates climbing back up before you close. The key is understanding your personal timeline: how soon do you need to close, and how much rate movement would actually change your decision? I help borrowers find that sweet spot based on their specific situation, not on market predictions nobody can really make. If you're considering a purchase or refinance, let's talk through the rate environment and what makes sense for your timeline. Reach out and we can discuss the right lock strategy for where you are in the process.
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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 My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Lindsey Carioti
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