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Mortgage Market Update
My Mortgage Company
James Miller
Tuesday, November 3, 2026
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What changed for your mortgage this week |
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Rates don't stay still, and neither should your mortgage strategy. Here's what you should know right now.
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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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Rate Movement
When rates shift, your options change
Mortgage rates move based on broader economic forces—the Fed, inflation, bond markets—not because of anything you did. But here's what matters to you: when rates go up or down, the math on your options shifts too. A refinance that didn't make sense last month might make sense now. Or a purchase you were considering could become more or less affordable. The point isn't to panic or rush; it's to stay aware. Small moves in rates can add up over time, and the only way to know if something has actually changed for your situation is to check where things stand today. I'm here to help you understand what those moves mean for you specifically. Let's have a quick conversation about where rates are and what it means for your next step.
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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
James Miller
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