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Mortgage Market Update
My Mortgage Company
Nebil Mathewos
Tuesday, November 3, 2026
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Why your payment went up (and it might not be rates) |
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Hi there. I want to walk you through something that catches a lot of homeowners off guard—and it's simpler than you might think.
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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 might change even when rates don't
Your mortgage payment is built from a few moving pieces—principal, interest, taxes, and insurance. Most borrowers focus on interest rates, which makes sense. But here's what surprises people: your payment can shift even when rates stay flat. Property taxes rise. Insurance premiums change. If you have an adjustable-rate loan, the rate itself adjusts on schedule. Understanding what drives your payment helps you budget smarter and spot opportunities to refinance or adjust your strategy. If you've noticed your payment creeping up and aren't sure why, that's worth investigating together. Let's walk through your statement and talk about what's really moving your payment.
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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
Nebil Mathewos
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