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Mortgage Market Update
Bradley Crowe
Bradley Crowe
Tuesday, November 3, 2026
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Your mortgage payment: what can change and why |
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Hi there. A lot of borrowers are surprised to learn that even a locked-in mortgage rate doesn't always mean a locked-in payment. Here's what you need to know.
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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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Payment Planning
Why your mortgage payment might shift
If you have an adjustable-rate mortgage or a loan with an escrow account, changes in rates or property taxes can affect what you pay each month. Even fixed-rate borrowers should know that while the principal and interest stay the same, your total payment can move if your homeowners insurance or tax assessment changes. Understanding what drives these shifts helps you budget confidently and spot opportunities to refinance into more predictable terms if the time is right. I'm happy to walk you through your specific situation and explain what to expect. Let's review your loan and talk through any payment questions you have.
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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 Bradley Crowe team any time and we'll walk you through your options. |
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