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Mortgage Market Update
Jonathan Lee
Jonathan Lee
Saturday, October 31, 2026
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Waiting for rates isn't always waiting for the right thing |
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It's easy to get caught up watching rates move every week. But your homeownership goal isn't just about the interest rate—it's about the home, the timing, and your life.
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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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Home Buying
Why waiting for the perfect rate can cost you
I talk to a lot of people who are holding off on buying because they're convinced rates will drop further. Here's the thing: if you're ready to buy and you find the right home at the right price, waiting for rates to move can sometimes work against you. Home prices don't stay frozen while you wait. And if rates do move your way, you can always refinance down the road—but you can't go back and buy that house you loved at last month's price. The best time to buy is usually when your finances line up, your family needs it, and you've found a property that works for you. That's worth more than chasing a hypothetical rate that might not come. Let's talk about what makes sense for your timeline and 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 Jonathan Lee team any time and we'll walk you through your options. |
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