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Mortgage Market Update
Emin Hakobian
Phast Funding
Tuesday, November 3, 2026
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When rates go up, here's what changes |
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Markets move, and rates with them. When that happens, it's natural to wonder what it means for your wallet.
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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 climbs, your budget doesn't have to break
If you've owned your home for a while, you've probably noticed that rates and payments have shifted over time. When rates move up, your monthly payment on a new loan would climb too—and that can feel like the door is closing on refinancing or buying again. Here's the thing: there are real ways to absorb a higher rate without your budget taking the hit. A longer loan term, a bigger down payment on a purchase, or even a different loan program can all work to keep your payment manageable. The key is knowing your actual options before you assume something isn't possible. I'd love to walk you through what's realistic for your situation right now. Let's talk about what a payment would actually look like 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 Emin Hakobian team any time and we'll walk you through your options. |
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