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Mortgage Market Update
Desiree Tyquiengco
Desiree Tyquiengco
Tuesday, November 3, 2026
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What a rate change actually means for you |
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One of the questions I hear most often is how interest rates affect the money you pay each month. Let me break it down for you.
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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
What happens to your payment when rates move
If you're shopping for a mortgage or thinking about refinancing, rate changes can feel confusing—especially if you're not sure how they actually affect your monthly payment. The truth is simple: when rates go up, your payment goes up. When rates go down, your payment goes down. But the relationship isn't always as dramatic as you might think. A small rate move can shift your payment by a modest amount, while a bigger move has a bigger effect. Understanding this connection helps you make smarter decisions about timing and loan options. If you'd like to walk through exactly how today's rates would affect your specific situation, I'm here to show you the real numbers. Let's talk through your payment options—reach out anytime.
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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 Desiree Tyquiengco team any time and we'll walk you through your options. |
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