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Mortgage Market Update
My Mortgage Company
Robert Gleich
Tuesday, November 3, 2026
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When your mortgage payment feels too high |
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Sometimes a loan that felt right at first stop feeling right later. Here's what you can do about it.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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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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Affordability Check
When your payment stretches too thin
Life changes. Your income shifts, expenses climb, or rates move in ways that make your current payment harder to manage. If you're feeling the squeeze, you're not alone—and you may have options. Some borrowers find relief through refinancing to a longer term, adjusting their loan type, or tapping into equity they've built. Others discover they qualify for different programs than they did years ago. The key is taking an honest look at your budget and knowing what's actually available to you. I've helped plenty of homeowners restructure their loans to match their real life, not the life they had when they first bought. A conversation costs nothing and might reveal a path you hadn't considered. Reach out whenever you're ready to talk through what might work 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 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
Robert Gleich
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