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Mortgage Market Update
My Mortgage Company
Rafael Martinez
Tuesday, November 3, 2026
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Rates just moved—here's what it means |
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Hi there. Mortgage rates don't stay still for long, and when they shift, your options shift with them. Here's what you should 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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Rate Movements
When rates drop, your options change
Interest rates move constantly, and even small shifts can open new doors for your mortgage. If rates have come down since you locked in your loan, you might suddenly qualify for a refinance that didn't make sense before. Or if you've been waiting on the sidelines to buy, a rate dip could move a home back into reach. The reverse is true too—when rates rise, it's a good reminder to act on plans you've been considering. The key is knowing where rates stand right now compared to your situation, so you can make a move if it makes sense. I'm here to help you understand what changed and whether it's worth exploring. Let's talk about what the current market means for you.
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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
Rafael Martinez
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