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Mortgage Market Update
My Mortgage Company
Madden Sewer & Drain
Tuesday, November 3, 2026
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What a rate shift means for your options |
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Rates move every week, sometimes every day. When they do, it's worth understanding how that affects you.
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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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Rate Movement
When rates shift, your options shift too
Interest rates don't stay in one place, and that's actually useful information for you. When rates move, it changes what you can afford on a purchase, what refinancing might look like, and which loan program makes the most sense for your situation. The key is knowing what to do when it happens. Some borrowers lock in right away. Others wait and watch. Some find that a rate movement opens a door they didn't know existed—like moving from an adjustable rate to a fixed one, or finding a program that wasn't worth considering before. The point isn't to chase rates or time the market perfectly. It's to stay aware so you can make a move when it serves your actual goals. I'm here to help you interpret what's happening and figure out if any action makes sense for you right now. If you'd like to talk through what rate movement means for your situation, just reach out.
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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
Madden Sewer & Drain
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