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Mortgage Market Update
My Mortgage Company
Liah Jones
Tuesday, November 3, 2026
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Rate moves and what they mean for your payment |
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Every borrower feels rate news differently depending on where they sit. Let me break down how the math actually works.
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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 & Rates
When rate changes actually shift your budget
Rate movements get a lot of attention, but what really matters is how they land on your wallet each month. A modest rate move doesn't always mean a huge payment change—it depends on your loan amount, term, and where rates started. The inverse is also true: sometimes a small rate dip feels smaller than you'd expect. Understanding this connection helps you decide whether a rate shift is worth acting on, or if you're in a good spot where you are now. I'm happy to walk through your specific numbers so you know exactly what any move means for you. Let's talk through what current rates mean for your situation.
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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
Liah Jones
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