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Mortgage Market Update
My Mortgage Company
Shane Valente
Tuesday, November 3, 2026
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Why your rate quote isn't like everyone else's |
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Hi there. Rates are a big conversation right now, but there's one thing I notice people don't always realize: the rate you qualify for depends on a lot more than just what the market is doing.
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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 Environment
Why your neighbor's rate might look different from yours
When rates move, they don't move the same way for everyone. Your credit score, down payment size, loan type, and how long you lock in your rate all play a role in what you actually get offered. I've had clients ask why their coworker got a better number—and the answer is usually that their situations just aren't identical. The good news: understanding what affects your rate means you can sometimes improve it. Even small moves—like paying down existing debt or asking about different loan programs—can shift things in your favor. If you're curious what's available to you right now, I'd love to take a look at your specific situation. Let's talk about what rate options make sense for your circumstances.
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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
Shane Valente
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