 |
| |
 |
Tuesday, November 3, 2026 |
|
|
Mortgage Market Update
Why your mortgage payment went up (and what to do)
Mortgage payments can feel like they're always on the rise. This week we're breaking down exactly why that happens—and how to figure out your best next move.
|
|
|
|
National Mortgage Rates · November 2, 2026
|
Conventional 30-Year
6.88% 30-day Range: 6.88%–7.21%
|
|
|
Conventional 15-Year
6.33% 30-day Range: 6.22%–6.56%
|
| |
FHA 30-Year
6.71% 30-day Range: 6.71%–6.96%
|
| |
VA 30-Year
6.51% 30-day Range: 6.51%–6.88%
|
|
|
%22%2C%22fill%22%3Atrue%2C%22tension%22%3A0.4%2C%22pointRadius%22%3A4%2C%22pointBackgroundColor%22%3A%22%230a1a46%22%2C%22borderWidth%22%3A2%7D%5D%7D%2C%22options%22%3A%7B%22plugins%22%3A%7B%22legend%22%3A%7B%22display%22%3Afalse%7D%7D%2C%22scales%22%3A%7B%22y%22%3A%7B%22ticks%22%3A%7B%22callback%22%3A%22function(v)%7Breturn%20v%2B%5C%22%25%5C%22%7D%22%2C%22color%22%3A%22%23666%22%7D%2C%22grid%22%3A%7B%22color%22%3A%22rgba(0%2C0%2C0%2C0.06)%22%7D%7D%2C%22x%22%3A%7B%22grid%22%3A%7B%22display%22%3Afalse%7D%2C%22ticks%22%3A%7B%22font%22%3A%7B%22size%22%3A11%7D%2C%22color%22%3A%22%23666%22%7D%7D%7D%7D%7D&w=520&h=180&bkg=white&f=12) |
|
Source: Optimal Blue daily mortgage indices via FRED · Includes our pricing adjustment
Rates shown are national mortgage index rates plus our pricing adjustment, 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.
|
| | |
|
Loan Term Strategy
Why your loan length matters more than you think
When you're comparing mortgages, it's easy to focus only on the interest rate. But the length of your loan — whether you choose 15 years, 20 years, 30 years, or something in between — shapes your whole financial picture. A shorter term means you build equity faster and pay less interest over time, but your monthly payment will be higher. A longer term gives you breathing room in your monthly budget, though you'll pay more overall. There's no universally "right" answer; it depends on your income stability, other debts, and long-term plans. I'd love to walk you through how different terms would actually look for your situation, so you can make a choice that fits your life, not just the numbers.
|
|
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.
|
|
|
Smarter Moves. Happier Homeowners.
|
Even with a fixed interest rate, your monthly mortgage payment can increase. That's usually because your property taxes, homeowners insurance, or both have gone up—and those amounts are rolled into your escrow account each month. Understanding the difference between a rate change and an escrow shortage helps you decide whether to refinance, adjust your budget, or take action.
| Key takeaway: A higher payment on a fixed-rate mortgage almost always means taxes or insurance increased, not your interest rate. |
|
|
Real Estate - Keeping Current Matters
|
If you think you know the magic credit score needed to buy a home, you might be surprised. Credit scoring models are evolving, and what lenders look for is more nuanced than a single number. Understanding how these changes work can help you make smarter financial moves before you apply for a mortgage.
| Key takeaway: Credit score requirements vary by lender and loan type, so focus on building good credit habits rather than hitting one target number. |
|
|
|
Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Paul Cederholm team any time and we'll walk you through your options.
|
|
303-931-6798
NMLS# 1697336 · Company NMLS# 891464
Mortgage Broker | Cederholm Mortgage Advisors at Edge Home Finance · Unsubscribe
|
|
