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Mortgage Market Update
My Mortgage Company
The Mortgage Tigers
Tuesday, November 3, 2026
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When rates move, your payment moves too |
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Hi there,
This week I want to touch on something that affects every borrower but often goes unnoticed until you see it on your statement.
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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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Cash Flow Planning
What happens to your budget when rates shift
Interest rates move all the time, and when they do, your monthly payment can change—especially if you have an adjustable-rate loan or are thinking about refinancing. Even a small rate movement can affect how much you're paying each month and how much of your payment goes toward principal versus interest. Understanding this connection helps you plan ahead and spot opportunities to build equity faster or free up cash for other goals. If you're curious about how rate changes might impact your specific situation, I'd be happy to walk through the numbers with you. Let's talk through how your loan reacts to rate changes—reach out 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
The Mortgage Tigers
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