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Mortgage Market Update
My Mortgage Company
David Gentile
Tuesday, November 3, 2026
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When a lower starting rate comes with a catch |
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Mortgage options aren't one-size-fits-all. This week I'm breaking down one choice many borrowers face—and what to think about before you decide.
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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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Fixed vs. Adjustable
What changes when your rate adjusts
If you're considering an adjustable-rate mortgage, it helps to understand what happens when the initial fixed period ends. When an ARM adjusts, your monthly payment can increase—sometimes significantly—based on market conditions at that time. The trade-off is that adjustable rates often start lower than fixed rates, which can make homeownership more affordable upfront. The key is knowing your comfort level with payment uncertainty down the road, and whether the initial savings justify that risk for your situation. I'm happy to walk through how different loan structures work and which might align with your plans. Let's talk about which mortgage structure makes sense for where you are.
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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
David Gentile
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