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Mortgage Market Update
Major Singleton
Major Singleton
Saturday, October 31, 2026
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Locked in or still deciding? |
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One of the most common questions I hear isn't really about rates at all—it's about timing. Here's what you need to think about.
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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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Smart Timing
When to lock in, when to wait
Rate decisions aren't always about having the lowest possible number—they're about your personal situation and timeline. If you're closing soon, locking in protects you from moves that happen between now and closing day. If you're a few months away, you have more flexibility to watch the market without pressure. The right move depends on your closing date, how comfortable you feel with uncertainty, and what works for your budget. There's no universal answer, which is why I always recommend talking through your specific timeline before deciding. I'm here to walk you through the pros and cons so you can feel confident in whatever you choose. Let's talk about what makes sense for your 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 Major Singleton team any time and we'll walk you through your options. |
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