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Mortgage Market Update
Tony Tehfe
Tony Tehfe
Tuesday, November 3, 2026
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Your mortgage payment might shift—here's why |
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Hi there. Sometimes payment surprises happen to borrowers who weren't expecting them. This week I want to cover a few ways your monthly housing costs can move—even without a refinance.
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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 changes without a refi
Most people think their mortgage payment only moves if they refinance. But that's not entirely true. If you have an adjustable-rate loan, your payment can shift when your rate adjusts—sometimes significantly. Even if you're locked into a fixed rate, your total housing costs can climb if your property taxes or insurance premiums go up, or if your escrow account needs rebalancing. It's worth knowing what's in your payment and whether any of these pieces might be changing soon. Understanding what you actually owe each month helps you budget smarter and spot opportunities to adjust your loan if things have shifted. Let's review your loan and payment structure together—I can walk you through what's there and what might be coming.
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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 Tony Tehfe team any time and we'll walk you through your options. |
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