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Mortgage Market Update
My Mortgage Company
Alexei Pepple
Tuesday, November 3, 2026
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Loan approval and real affordability aren't the same |
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Good morning. One of the hardest parts of buying or refinancing isn't the paperwork—it's knowing how much house you should actually buy.
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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 fits, but your budget doesn't
You can qualify for a loan and still feel stretched every month. That's because lender approval isn't the same as personal comfort. A mortgage that passes underwriting might leave you with less breathing room than you'd like for groceries, emergencies, or the life you actually want to live. Before you commit to a loan amount, take a hard look at what you can afford without stress—not just what a bank will allow. That number is usually lower, and that's okay. It's smarter to borrow less and sleep better than to max out and white-knuckle your way through payments. If you're house hunting or thinking about refinancing, let's talk about what a realistic payment looks like for your real life. Reach out if you'd like to walk through what actually works for your household.
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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
Alexei Pepple
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