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Mortgage Market Update
My Mortgage Company
Rosco Roger
Tuesday, November 3, 2026
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Why rate moves change what you qualify for |
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Rates move constantly, and most people know that affects their payment. But there's another side of that story that catches a lot of homeowners off guard.
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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 Reality
When your rate changes, so does what you can afford
A lot of people think refinancing is only about lowering your payment. But rate changes affect affordability in both directions. When rates drop, you may qualify for a larger loan or pull out cash. When rates rise, lenders tighten what they'll approve you for—even if your income and credit stay the same. Understanding this matters whether you're thinking about refinancing, buying a second property, or just wondering where you stand. The relationship between rates and your borrowing power isn't always obvious, but it's real and it affects your options. If you're curious what a rate shift means for your specific situation, I'd be happy to walk through it with 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
Rosco Roger
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