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Mortgage Market Update
My Mortgage Company
Mauricio Valencia
Tuesday, November 3, 2026
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Your payment could change—here's why |
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Homeownership comes with predictability—and surprises. This week, I want to walk you through one of the biggest surprises homeowners miss.
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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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Payment Reality
Why your payment might move even if rates don't
Most people think their mortgage payment is locked in forever—and in one sense, it is. But if you have an adjustable-rate loan, an escrow account, or property taxes that shift, your monthly bill can change even when interest rates stay flat. Property tax reassessments happen on their own schedule. Insurance premiums climb. And if you're in an ARM period where the rate adjusts, your principal and interest payment itself can move. Understanding what's fixed and what isn't helps you budget smarter and spot changes before they hit your account. If you're unsure what type of loan you have or how your payment is built, that's worth clarifying now. Let's review your loan structure and payment breakdown together.
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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
Mauricio Valencia
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