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Mortgage Market Update
My Mortgage Company
Dorian Weber
Tuesday, November 3, 2026
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What to do if your payment feels too high |
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Sometimes the numbers that made sense a year or two ago don't feel right anymore. Here's what you should know about your options.
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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
When your payment gets harder to afford
Life changes fast. A job shift, growing family, or unexpected expense can turn a comfortable mortgage payment into a real stretch. If you're feeling the squeeze, you have more options than you might think. Depending on your situation, you could explore a loan modification with your current lender, refinance to a different term, or even tap into home equity you've built. The key is talking to someone before the payments become a problem—not after. I've helped borrowers find breathing room in their budget more times than I can count, and there's usually a path forward. If your payment is weighing on you, let's have a conversation about what might work. Reach out anytime you want to talk through what's possible for your situation.
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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
Dorian Weber
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