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Mortgage Market Update
My Mortgage Company
John Hersperger
Tuesday, November 3, 2026
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Your finances may have changed |
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Hi there. It's easy to assume your borrowing power is frozen in time, but the truth is that life moves your circumstances around.
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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 Check
Your budget may have changed since you last looked
Life happens—your income shifts, debt gets paid down, or you've built more equity than you realized. Any of those changes can open up new possibilities with your mortgage or borrowing power. Sometimes it's worth revisiting what you can actually afford, especially if your situation has improved. I often talk to homeowners who haven't checked in on their finances in a couple of years and are surprised by what's changed. A quick conversation about where you stand now—compared to where you were—can reveal options you didn't know existed. If you're thinking about moving, upgrading, or just curious whether your circumstances have shifted enough to matter, I'm happy to walk through it with you, no pressure. Let's talk about your situation today—call or email me 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 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
John Hersperger
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