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Mortgage Market Update
My Mortgage Company
Lindsey Carioti
Friday, November 6, 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 5, 2026
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Conventional 30-Year
7.18%
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Source: Optimal Blue daily mortgage indices via FRED · 30-yr: Freddie Mac weekly survey
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
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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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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