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Mortgage Market Update
My Mortgage Company
Katie Maynard
Tuesday, November 3, 2026
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Has your buying power changed? |
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Rates move. Paychecks grow. Life happens. Here's what that means for what you can afford.
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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
Your budget may have shifted since you last looked
If rates have moved since you bought or last refinanced, your monthly payment isn't the only thing that changed — your buying power did too. When rates rise, the same monthly budget stretches to a lower home price. When rates fall, you can afford more for the same payment. Even if you're not in the market, knowing where your affordability stands helps you plan ahead. Whether you're thinking about upsizing, downsizing, or just want to understand your options, a fresh look at what you can actually afford takes the guesswork out of big decisions. I'm here to walk through the numbers with you, no pressure. Let's talk about where your budget stands today.
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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
Katie Maynard
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