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Mortgage Market Update
My Mortgage Company
Dylan Crews
Tuesday, November 3, 2026
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When rates move, your options change |
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Hi there. As rates shift, so do the decisions you can make about your home and your money. Here's what you should know.
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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
What changes when rates move
When interest rates shift—even by a small amount—your monthly payment and overall borrowing power both change. A higher rate means your payment goes up on the same loan amount, and you may qualify to borrow less. The reverse is true when rates fall. This is why it's worth checking in periodically, especially if you've been thinking about buying, refinancing, or tapping your home's equity. Your situation today might look very different from what it looked like a few months ago, and not always in the direction you'd expect. I'd love to run the real numbers for you based on where rates actually are this week. Let's talk about what your options look like right now.
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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
Dylan Crews
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