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Mortgage Market Update
My Mortgage Company
Adan Saldana
Tuesday, November 3, 2026
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Why your mortgage payment might have gone up |
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Hi there. One of the most common questions I hear from homeowners is: why did my payment change? Let me explain what's really happening.
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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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Payment Planning
When your mortgage payment goes up (and why)
Your interest rate isn't the only thing that can change your monthly payment. Property taxes, homeowners insurance, and PMI can all shift over time—sometimes significantly. If you've noticed your payment creeping up, or you're wondering what to expect down the road, it helps to understand which pieces move and which stay locked in. Knowing what's happening behind the scenes means fewer surprises and smarter planning for your budget. I'm here to walk you through what you're seeing on your statement and what it means for your household. Let me know if you'd like a closer look at your payment breakdown.
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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
Adan Saldana
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