Mortgage Market Update

My Mortgage Company

Eric Swenson

Tuesday, November 3, 2026

Why your rate quote might look different

Mortgage rates are just one piece of the puzzle. Here's what actually shapes the number you'll see.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Rate Environment

Why your neighbor's rate might differ from yours

When rates move, they move for everyone — but the actual rate you qualify for depends on factors unique to your situation. Your credit profile, the size of your loan, how much you're putting down, the type of property, and even the loan program you choose all play a role in where you land. Two people applying on the same day can see different numbers. That's why a generic rate you see online is really just a starting point. Understanding what influences your personal rate helps you make smarter decisions about timing, down payment strategy, and which loan program makes sense for your goals.

If you're curious what rate environment looks like for your specific situation, I'm here to walk you through it.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

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.

Your Mortgage Advisor

My Mortgage Company

Eric Swenson

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