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Mortgage Market Update
My Mortgage Company
Jamie Becker
Tuesday, November 3, 2026
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When your payment feels too high |
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Sometimes a mortgage that worked fine stops working. Here's what you can do about it.
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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
When your budget stops matching your home
Life changes fast. A job shift, growing family, or unexpected expense can turn a comfortable mortgage into a tight squeeze. The good news: you have options before things feel urgent. Some borrowers find relief through refinancing to a longer term. Others discover they've built enough equity to tap into it strategically. A few realize a rate drop has made their payment more manageable than they thought. The key is knowing what's actually possible for your situation—not what you assume. I've helped plenty of people who thought they were stuck find a path forward. If your monthly payment feels heavier than it used to, or if life has shifted since you bought, it's worth a conversation. No obligation, just clarity. Reach out if you'd like to talk through what options might work for you.
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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
Jamie Becker
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