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Mortgage Market Update
My Mortgage Company
Annika Harris
Tuesday, November 3, 2026
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Has your home budget changed lately? |
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Affordability is personal and it moves. Here's what you should know.
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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
Why your budget might stretch further than you think
When rates move, it changes what you can afford—but not always in the direction you'd expect. If rates have dropped since you last looked, the same monthly payment could get you into a more expensive home, or the same home could cost less per month. If rates have climbed, your budget may tighten. The point: your affordability isn't fixed. It shifts with market conditions and with changes in your own financial picture—new income, improved credit, a down payment that's grown. Before you assume what's possible, it's worth having a real conversation about where you actually stand right now. That's what I'm here for. Let's talk through what you can afford in today's environment.
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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
Annika Harris
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