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Mortgage Market Update
My Mortgage Company
Gabrielle Theoharis
Tuesday, November 3, 2026
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Why affordability starts before the rate |
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When money and mortgages come up, interest rates grab all the attention. But I've learned that's often backwards.
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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 Math
Your budget matters more than rates
I talk to borrowers all the time who focus on interest rates first—and miss what actually moves the needle on affordability. Here's the thing: when rates shift, your monthly payment changes. But the real story is what you can actually afford to borrow in the first place. Your income, debt, down payment, and credit profile determine your loan amount long before we look at today's rate. That's why I always start with the fundamentals. If you're thinking about buying, refinancing, or just wondering whether a move makes sense financially, let's talk through your full picture. Small changes in how much you put down or how you structure your timeline can open up options you didn't know existed. Reach out and we'll walk through what's actually possible 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
Gabrielle Theoharis
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