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Mortgage Market Update
My Mortgage Company
Scott Rinehart
Tuesday, November 3, 2026
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When life changes, your mortgage can too |
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Hi there. Life rarely stays exactly as we planned it, and neither does our ability to carry a mortgage payment. Here's what you should know.
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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
When your budget shifts, your loan might too
Life changes fast. A job transition, a growing family, unexpected expenses—any of these can shift what you can actually afford in a mortgage payment. The good news is that your options don't disappear when circumstances change. Depending on where you are in your loan, you might refinance to a different term, explore a loan program that fits your new situation better, or simply take stock of where you stand. The key is not waiting until you feel stuck. If your financial picture has changed since you closed, or if it's shifting now, there's real value in a conversation about what makes sense for you today—not what made sense eighteen months ago. Let's talk about whether a loan adjustment or refinance could work for your situation.
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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
Scott Rinehart
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