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Mortgage Market Update
Rafi Hatamian
Phast Funding
Tuesday, November 3, 2026
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Rate moves and what they mean for you |
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Mortgage rates are always in motion, and that has a real effect on your finances. Here's what shifts when they do.
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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 Shifts
Why your budget might look different now
When rates move, your buying power changes—even if your salary hasn't. A higher rate means your monthly payment climbs on the same loan amount, which can shift what you can actually afford. The reverse is true too: if rates drop, that house you thought was out of reach might pencil out now. The key is staying honest about your budget rather than stretching to hit a price tag. If you're shopping, refinancing an existing loan, or just curious where you stand, I'm happy to walk through what today's environment means for your specific situation. Let's talk about what you can comfortably afford 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 Rafi Hatamian team any time and we'll walk you through your options. |
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(310) 849-1450
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