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Mortgage Market Update
My Mortgage Company
Jeffrey Dale Driggers
Tuesday, November 3, 2026
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What if your mortgage payment is too high? |
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Money gets tight for everyone at some point. Here's how to handle it when your mortgage becomes the problem.
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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
When your payment becomes unmanageable
Life changes fast. A job shift, medical bills, or rising costs can turn a comfortable mortgage payment into a real stretch. If you're feeling the pressure, you're not alone—and you have options worth exploring. A longer loan term, a refinance to better rates, or even a loan modification can ease the burden without derailing your homeownership. The key is talking to someone before things feel impossible. I can walk you through what's realistic for your situation and what moves might help you keep your home while breathing easier each month. Let's talk about what a sustainable payment looks like for you right now.
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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
Jeffrey Dale Driggers
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