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Mortgage Market Update
My Mortgage Company
test test's Account
Tuesday, November 3, 2026
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Did your budget change with rates? |
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Rates move, and when they do, your financial picture shifts with them. Here's what that really means for 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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Affordability Check
When your budget needs to shift with rates
Rate changes don't just affect your existing loan—they reshape what you can afford to borrow. If rates have moved since you last looked at buying or refinancing, your purchasing power may have changed too. Some people find they can afford less; others discover they have more room in their budget than they thought. The key is understanding how your personal numbers work right now, not six months ago. I'd encourage you to talk through where you stand today. Your situation is probably different from what it was, and it's worth knowing exactly how. Let's review what makes sense for your situation today.
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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
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