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Mortgage Market Update
My Mortgage Company
Brian Sammon
Tuesday, November 3, 2026
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Your payment might change soon—here's why |
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Not every mortgage works the same way. Some loans are designed to shift over time, and it helps to know yours.
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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 Planning
When your mortgage payment jumps—and what to do
If you have an adjustable-rate loan or an ARM that's resetting soon, your monthly payment may be about to change. This catches a lot of borrowers off guard, especially if rates have moved since you locked in your loan. The good news: there are real options. You might refinance into a fixed rate for stability, adjust your budget ahead of time, or explore other strategies depending on your situation. The key is understanding what's coming so you're not surprised by your next statement. If you're unsure whether your rate adjusts or when, I'd be happy to walk through your paperwork with you. Let's talk through your loan details and make sure you know what to expect.
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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 Sammon
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