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Mortgage Market Update
My Mortgage Company
Michael DeVincentis
Tuesday, November 3, 2026
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What to do if your payment feels tight |
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Your home, your budget, your goals—they all move together. This week, a practical look at managing your mortgage payment.
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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 payment climbs: what to do
If rates have moved since you locked your loan, or if you're watching the market shift, you might wonder what happens to your monthly payment and overall affordability. The truth is straightforward: higher rates mean higher payments, and lower rates mean lower ones. But here's what matters most right now—if your current situation has changed, you have options. A conversation about your goals can reveal whether refinancing makes sense, whether adjusting your loan term might work, or simply whether your budget needs a different kind of adjustment. The key is not to ignore it. Reach out, and we'll look at your numbers together with no pressure. Let's talk about what your loan looks like today and what's possible tomorrow.
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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 DeVincentis
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