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Mortgage Market Update
Jason Thomas
Jason Thomas
Tuesday, November 3, 2026
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How rate changes affect what you actually pay |
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Hi there. This week I want to clear up one of the most common questions I hear about mortgage rates.
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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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Payment Reality
What actually happens to your payment when rates move
A lot of people ask me how rate changes affect their monthly mortgage payment—and the answer matters whether you're shopping for a home or thinking about your current loan. When rates go up, your payment goes up. When rates go down, your payment goes down. It sounds simple, but the size of that change depends on your loan amount, how many years are left on your mortgage, and the size of the rate movement itself. Even a small shift in rates can add up to real money over time. If you're curious how today's environment might affect your specific situation, I'd like to walk you through it with you. Let's talk about what your numbers might look like—reach out whenever you're ready.
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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 Jason Thomas team any time and we'll walk you through your options. |
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