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Mortgage Market Update
Taylor Henderson
Taylor Henderson
Tuesday, November 3, 2026
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Why your payment ticked up this month |
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Hi there. This week I want to talk about something that surprises a lot of homeowners: a payment increase that has nothing to do with interest rates.
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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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Mortgage Basics
Why your payment might change even if your rate doesn't
Your mortgage payment is made up of more than just interest. Taxes, insurance, and mortgage insurance (if applicable) all roll into that monthly bill—and they can shift without any change to your actual loan rate. Property taxes go up. Insurance premiums adjust. These changes are real money out of your pocket, even if the lending side stays steady. Knowing what's baked into your payment helps you budget smarter and spot surprises before they land in your inbox. If you've noticed your payment creeping up lately, it's worth understanding why. Let me walk you through your statement and explain what's driving any changes.
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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 Taylor Henderson team any time and we'll walk you through your options. |
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