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Mortgage Market Update
My Mortgage Company
Stephanie Carman
Tuesday, November 3, 2026
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Why mortgage rates matter right now |
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Interest rates are one of those things that affect your loan more than almost anything else. Let me break down what's really happening and why you should care.
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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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Rate Movement
What happens to your payment when rates shift
When interest rates move—even a little—the math on your monthly payment changes fast. If you're shopping for a home, a rate increase means your buying power shifts. If you're already a homeowner, you might be wondering whether refinancing makes sense in the current environment. The key is understanding that your rate and your payment are linked: rates go up, payments go up; rates come down, and refinancing might open a door. That's why it's worth checking in on where rates are sitting and what your options look like. Every borrower's situation is different, and timing matters. Let's talk about what today's rates mean for your specific loan.
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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
Stephanie Carman
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