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Mortgage Market Update
My Mortgage Company
Michael W Pehrson
Tuesday, November 3, 2026
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Ready to explore your mortgage options? |
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Getting a mortgage doesn't have to feel rushed or confusing. We're here to help you think it through at your own pace.
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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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Getting Ready
Before you call about a mortgage
I talk to a lot of people who are ready to buy or refinance, but they're not quite ready to move forward yet—and that's okay. A few simple steps early on can smooth out the whole process and help you feel more confident when you're serious. Things like knowing your credit score, gathering recent pay stubs and tax returns, and thinking through how long you plan to stay in a home all matter more than you might think. When you walk in prepared, we can move faster and spot the right loan option for your situation without wasting time. If you're thinking about a mortgage in the coming weeks or months, let's talk through what makes sense for you right now. Reach out anytime—no pressure, just answers.
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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
Michael W Pehrson
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