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Mortgage Market Update
My Mortgage Company
Raymond F Rodrigues
Tuesday, November 3, 2026
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When rates move, your budget moves too |
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Hi there. One of the most important things I help clients understand is how the mortgage market actually works—and how it affects them personally.
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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 Check
What changes when rates move
When mortgage rates shift, even by a small amount, your monthly payment and buying power both move in the opposite direction. Higher rates mean lower affordability on the same home price—and lower rates expand what you can qualify for. This isn't abstract: it affects whether a home feels within reach or out of budget. The good news is that understanding this relationship puts you in control. You can plan around rate changes, lock in when it makes sense, or adjust your home search to stay in your comfort zone. Whatever your situation, knowing how rates ripple through your finances helps you make smarter decisions. Let's talk about what rate movement means for your specific goals.
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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
Raymond F Rodrigues
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