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Mortgage Market Update
My Mortgage Company
Barrett Financial - Robert Ianniciello
Tuesday, November 3, 2026
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Rates moved—here's what that means for you |
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Markets shift, and so do the choices available to you as a borrower. Here's what you should know this week.
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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 rates rise, your buying power shifts
If you've been shopping for a home or thinking about your next move, you've probably noticed that rate changes do more than just tweak your monthly payment—they change how much house you can actually afford. When rates move up, the same loan amount costs more each month, which means the price range you can comfortably borrow for shifts downward. The opposite is true when rates come down. It's not just math; it affects your real options in the market. If you're in the early stages of buying or wondering whether now is still the right time for you, it's worth having a fresh conversation about what those numbers mean for your specific situation. I'm here to walk through it with you. Let's talk about what your budget looks like in today's market.
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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
Barrett Financial - Robert Ianniciello
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