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Mortgage Market Update
Dustin Munu
Dustin Munu
Tuesday, November 3, 2026
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What today's rates mean for your budget |
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One of the questions I hear most is how rates affect the monthly payment — but there's another side to that story that's just as important.
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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
How rate changes affect what you can afford
When mortgage rates move, your monthly payment changes — but so does your buying power. A higher rate means you qualify for a smaller loan amount at the same monthly budget. The opposite is true when rates drop. If you're planning to buy soon or thinking about your next move, it's worth understanding how even small rate shifts reshape what you can actually afford. This is one of the biggest factors that gets overlooked, and it matters whether you're a first-time buyer stretching to get into a home or a current owner thinking about upgrading. The math is straightforward once you see it, and it can help you make smarter decisions about timing and your price range. If you'd like to talk through how today's rates affect your situation, I'm here to walk you through the numbers.
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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 Dustin Munu team any time and we'll walk you through your options. |
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