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Mortgage Market Update
My Mortgage Company
Michael Perlman - DELETE
Tuesday, November 3, 2026
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When your monthly payment isn't what it used to be |
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Life changes fast, and sometimes your mortgage payment does too. Here's what you should know.
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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 climbs
If you have an adjustable-rate loan or you're carrying an ARM from years past, you already know the drill: your rate can adjust, and your payment adjusts with it. Even if you locked in a fixed rate, life happens—property taxes go up, insurance premiums shift, HOA fees increase. Suddenly that comfortable monthly number feels tight. The good news is you're not stuck. We can talk through your options: refinancing to something more predictable, adjusting your escrow, or just getting real numbers on paper so you're not surprised. Knowledge beats anxiety every time. Let's walk through what your payment picture looks like and what levers we can pull.
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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
Michael Perlman - DELETE
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