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Mortgage Market Update
My Mortgage Company
Philip Carcel Munce
Tuesday, November 3, 2026
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What's actually changing in your mortgage payment |
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There's a lot that goes into that monthly number you pay. Some of it moves, and some of it doesn't—and it's worth knowing the difference.
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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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Smart Money
Why your mortgage payment might change even if rates don't
A lot of people think their mortgage payment is locked in stone—and it mostly is. But there are a few things that can nudge that payment up over time, even with a fixed rate. Property taxes and homeowners insurance can shift, and if you're paying PMI or an escrow account, those amounts adjust too. Understanding what moves and what stays flat helps you budget better and spots surprises before they hit your bank account. If you're curious about what's really baked into your payment, or wondering if a change you've seen is normal, I'm happy to walk through it with you. Drop me a line if you'd like to review what goes into your monthly payment.
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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
Philip Carcel Munce
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