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Mortgage Market Update
My Mortgage Company
Amanda Rawls
Tuesday, November 3, 2026
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The one mortgage choice that outlasts the others |
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One of the biggest decisions you'll make isn't about rates—it's about time. Here's what you need to know.
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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 loan term matters more than you think
When you're shopping for a mortgage, the interest rate gets most of the attention—but the length of your loan is just as important. The term you choose (usually 15 or 30 years) affects not just your monthly payment, but how much you'll pay in total interest over the life of the loan, and how quickly you'll build equity in your home. A shorter term means higher monthly payments but significant interest savings. A longer term spreads payments out, making them easier to manage month-to-month. Neither is universally right—it depends on your income, goals, and what fits your life right now. If you're not sure which makes sense for your situation, I'd love to walk through the trade-offs with you. Reach out and let's talk about which term aligns with your goals.
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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
Amanda Rawls
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