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Mortgage Market Update
My Mortgage Company
Annie Waneck — Annie Waneck
Saturday, October 31, 2026
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Rate moves hit your wallet harder than you'd think |
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Hi there. Rates move all the time, but most borrowers don't realize exactly how much that affects them personally.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15%
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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 Math
Why your next rate change matters more than you think
When interest rates move—even a small amount—the real impact shows up in your monthly payment and the total you'll pay over the life of your loan. A rate shift might seem like a decimal point change, but it affects how much house you can afford, what you'll owe years from now, and whether refinancing makes sense. If you're shopping for a home, this shapes your budget. If you already own, it could open new opportunities or highlight the value of what you're locked into now. Understanding this connection helps you make smarter decisions instead of just reacting to headlines. If you'd like to talk through what rate changes mean for your specific situation, I'm here to walk you through the math.
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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
Annie Waneck — Annie Waneck
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