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Mortgage Market Update
My Mortgage Company
Eric Swenson
Tuesday, November 3, 2026
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Why your rate quote might differ from others |
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Rates are on everyone's mind these days. But there's something important that often gets lost in the conversation: your rate isn't generic.
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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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Rate Environment
Why your neighbor's rate might not be yours
When rates move, they move for everyone—but the rate you actually qualify for depends on factors unique to your situation: your credit profile, the size of your down payment, the type of property, and the loan program that fits your needs best. Two people shopping on the same day can walk away with different offers, and that's completely normal. Understanding what influences your individual rate helps you make smarter decisions about timing a purchase or refinance. If you're curious where you stand right now, I'm happy to pull your specifics and show you what's realistic for your situation. Let's talk about what rate environment means for you specifically.
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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
Eric Swenson
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