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Mortgage Market Update
My Mortgage Company
Bryan Canar
Tuesday, November 3, 2026
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Your rate is costing you more than you realize |
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Hi there. This week I want to talk about something that often gets overlooked: how much your interest rate really shapes your financial picture.
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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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Mortgage Basics
Why your interest rate matters more than you think
Your interest rate is one of the biggest factors in your mortgage, but it's easy to overlook if you're focused only on your monthly payment. The rate you lock in determines how much interest you'll pay over the life of your loan — sometimes tens of thousands of dollars. It also affects how quickly you build equity in your home and whether refinancing makes sense down the road. Even small rate changes can shift your long-term costs significantly. Understanding your rate and how it compares to what's available today helps you make smarter decisions about your mortgage, whether you're buying now or looking ahead. I'd be happy to walk you through how your rate works and what options might be worth exploring.
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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
Bryan Canar
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