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Mortgage Market Update
My Mortgage Company
Annika Harris
Tuesday, November 3, 2026
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Payment shock: why now is the time to plan |
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Hi there. One of the best things you can do before rates or circumstances shift is to know exactly what you're looking at month to month.
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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
When your payment grows but your income doesn't
If you're carrying an adjustable-rate mortgage or you're thinking about taking one on, it's worth understanding how payment changes work in your real life. When rates move up, your monthly payment can too—sometimes by more than you'd expect. That's why knowing what your payment could be at different rate levels helps you plan ahead and avoid surprises down the road. Whether you're shopping for a new loan or already have one, it's smart to run the numbers now while you have time to think clearly about what fits your budget. Let's talk through your loan options and what the real numbers might look like for you.
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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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