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Mortgage Market Update
My Mortgage Company
Barrett Financial Group
Tuesday, November 3, 2026
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Rates moved—here's what that means for you |
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Rates don't stay still, and neither should your mortgage strategy. This week I'm breaking down what happens when the market shifts and why it matters to you.
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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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Rate Movement Impact
When rates move, your payment options change
A lot of people think rates only matter when you're shopping for a loan. But here's what actually happens: as rates shift in the market, your existing loan stays the same—but your refinancing options expand or contract. If you've been thinking about a rate adjustment, a refi, or even a loan program switch, the timing of a rate move can open doors that weren't there before. The best move is to understand where rates are today and whether your current loan still aligns with your goals. That's exactly the kind of conversation I'm here for. Let's talk about where rates stand this week and what it means 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
Barrett Financial Group
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