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Mortgage Market Update
My Mortgage Company
Partners In Mortgage
Tuesday, November 3, 2026
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It's not always about the rate |
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Hi there. This week I want to clear up something I hear confused a lot when people are shopping for mortgages.
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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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Mortgage Basics
Why your monthly payment matters more than the rate alone
When you're looking at mortgages, it's easy to fixate on interest rates—they're quoted everywhere and seem like the whole story. But here's what matters most: your actual monthly payment. Two loans with similar rates can have very different payments depending on the loan term, whether you're paying down principal faster, and what's rolled into that number. A loan officer who understands your full financial picture can show you options that fit not just today, but the way you actually want to live in your home. The goal isn't always the lowest rate—it's the payment and terms that work for you. Let's talk about what your real numbers look like and find a loan that fits your life.
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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
Partners In Mortgage
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