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Mortgage Market Update
My Mortgage Company
Rosco Roger
Tuesday, November 3, 2026
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When rates shift, your budget shifts too |
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Hi there. This week I want to break down something that confuses a lot of borrowers: why rates matter so much more than most people realize.
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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 Math
What actually changes when rates move
A lot of people think rising rates just mean higher interest payments—and that's true. But the real impact is usually bigger. When rates climb, your monthly payment goes up, which means you qualify for a smaller loan amount. Same income, less buying power. The opposite happens when rates fall: suddenly that house you thought was out of reach might be within reach again. It's not magic, just math. If you've been watching the market and wondering whether now is the moment to move forward, understanding how rates shape what you can afford is step one. Let's run the numbers for your situation—I can show you exactly how rates affect your options.
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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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