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Mortgage Market Update
My Mortgage Company
Brian Irby
Tuesday, November 3, 2026
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Why mortgage rates matter to your plans |
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Hi there—I wanted to touch base on something that affects everyone with a mortgage, whether you're just starting out or already settled in.
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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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Staying Prepared
When your mortgage rate might move—and why you should care
Mortgage rates don't stand still. They shift based on larger economic forces beyond any lender's control, and those moves can affect both your monthly payment and your options down the road. If you're a current borrower, a rate change might influence when—or whether—a refinance makes sense. If you're thinking about buying, rate movement changes what you can afford and what you qualify for. The key is staying informed, not anxious. By checking in on rates regularly and understanding how they work, you're better positioned to make smart decisions about your home and your money when the time comes. There's no need to rush or panic; just stay aware so you're never caught off guard. I'm here to walk you through what rate changes mean for your situation—give me a call whenever you want to talk it through.
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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
Brian Irby
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