Mortgage Market Update

My Mortgage Company

Jamie Becker

Tuesday, November 3, 2026

When your mortgage payment feels like too much

Hi there. This week I want to talk about something I hear often but people don't always raise first: what to do when your current mortgage stops feeling comfortable.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Affordability

When your budget feels tight, you have more options than you think

Life happens. A job change, unexpected expenses, or just the weight of monthly obligations can make your mortgage feel heavier than it did before. If you're feeling stretched, the first instinct is often to suffer in silence. But there are real conversations we can have.

Depending on your situation—how long you've been in your home, what your loan looks like, whether rates have moved—you might be able to adjust your terms, explore a different loan program, tap into equity you've built, or simply understand your options better. None of these decisions are one-size-fits-all, and none require you to overhaul your life. Sometimes a small change makes a meaningful difference.

If your mortgage feels like it's outpacing your budget, let's talk through what's possible for you.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Jamie Becker

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