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Mortgage Market Update
Kristopher McCury
Kristopher McCurry
Tuesday, November 3, 2026
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Your payment changes when rates move |
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Hi there. This week I want to talk about something that affects almost every homebuying or refinancing decision you might make.
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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 rate changes, your payment math changes too
A lot of people think about rates in a vacuum—just a number on a screen. But what actually matters is how your rate connects to your monthly payment and whether that payment still fits your life. When rates move, even a small shift changes what you can afford to borrow, or what you'll pay each month if you're already locked in. If you're thinking about buying soon or wondering whether now is the right time, it's worth running the numbers on what's realistic for your budget. The good news: this math is straightforward once you sit down and look at it. I can help you figure out where you stand and what your options really are. Let's talk through what affordability looks like for you right now.
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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 Kristopher McCury team any time and we'll walk you through your options. |
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