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Mortgage Market Update
Jan-Michael McClintic
Jan-Michael McClintic
Tuesday, November 3, 2026
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When rates move, so does your budget |
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Rates don't stay still, and neither does affordability. Here's what that 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
What changed about your buying power
If you've been shopping for a home or watching the market, you've noticed that your money goes different distances depending on where rates land. When rates shift, your monthly payment on the same loan amount moves with it — sometimes by meaningful amounts. This affects not just what you can afford, but which homes are actually within reach. The good news: if rates have come down since you started looking, you may qualify for more. If they've risen, it's worth reviewing your budget to see where you stand. Either way, it's not something to guess about. I can run real numbers based on today's market and show you exactly what your situation looks like right now. Let's take ten minutes to see where your buying power stands.
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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 Jan-Michael McClintic team any time and we'll walk you through your options. |
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