Mortgage Market Update

Mayra Stewart

Tuesday, November 3, 2026

What homeownership actually costs

A solid mortgage payment is important—but it's only half the equation. Here's what else matters when you're budgeting for a home.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Affordability Math

When your monthly payment doesn't tell the whole story

A lot of people focus on one number: the monthly mortgage payment. But that's only part of what it costs to own a home. Property taxes, insurance, HOA fees, maintenance—they add up fast, and they matter just as much when you're figuring out what you can actually afford.

Before you stretch for a higher price tag, it's worth sitting down and looking at the full picture. What will taxes run in the neighborhood you're eyeing? What's the typical insurance cost there? Understanding these pieces helps you make a decision you'll feel good about, not just month to month, but year after year. If you'd like help walking through the real numbers for a home you're considering, I'm here to talk it through.

Let's discuss the real cost of homeownership for your situation.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Mayra Stewart team any time and we'll walk you through your options.

Your Mortgage Advisor

Mayra Stewart

mayra.stewart@streethomelending.com

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