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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 signs for buyers and refinancers. We're tracking falling rates, shifting home prices, and what the Fed's next moves could mean for your wallet.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15%
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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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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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HousingWire
Click the link below to read the full article.
| Key takeaway: Read the full story, then reach out with any questions about your own situation. |
Read full article →
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Redfin
For the first time in three years, U.S. home-sale prices have fallen. This shift could ease affordability pressure in many markets and give buyers more negotiating power. It's a meaningful turn in the market after a long stretch of steady price gains.
| Key takeaway: price declines, combined with potentially lower rates, could create a better buyer's market than we've seen in years. |
Read full article →
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Mortgage News Daily
New home sales remained nearly flat in September, staying near recent momentum and suggesting buyers are still engaged despite higher affordability challenges. With about 476,000 homes on the market, inventory levels continue to be a key factor shaping competition and pricing.
| Key takeaway: steady sales and moderate inventory levels suggest the market is stabilizing—good news for buyers who are ready to move. |
Read full article →
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Mortgage News Daily
Housing starts and single-family building permits both pulled back in September, signaling some weakness in new construction. However, the overall housing market isn't showing signs of a sharp downturn. This uneven activity underscores how much market conditions vary by region and construction type.
| Key takeaway: slower new construction could mean less future inventory, which could support home values and limit buyer choice in some areas down the road. |
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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