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Mortgage Market Update
My Mortgage Company
Craig Barton
Tuesday, November 3, 2026
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Should your rate stay the same forever? |
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A lot of mortgage confusion comes down to one thing: not knowing what questions to ask. This week, let's talk about one of the most important decisions you'll make.
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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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Loan Program Basics
Fixed vs. adjustable: which fits your situation?
One of the biggest choices you'll make on a mortgage is whether you want your interest rate locked in for the life of the loan, or whether you're open to it adjusting after an initial period. There's no universal right answer—it depends on how long you plan to stay in your home, your comfort with payment changes, and what the rate environment looks like right now. Fixed-rate mortgages give you predictability and peace of mind. Adjustable-rate mortgages often start lower, which can help if you're planning to move or refinance down the road. I've worked with borrowers who thrived with each option. The key is understanding what you're signing up for and making sure it aligns with your real plans, not just today's payment. If you're weighing these options, I'd be happy to walk through the pros and cons for your specific 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
Craig Barton
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