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Mortgage Market Update
My Mortgage Company
Annie Waneck — Annie Waneck
Saturday, October 31, 2026
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Rate moves and what they mean for you |
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Rates are always moving. Here's why that matters to your wallet.
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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 Check
When your budget needs to shift with rate moves
Interest rates and your monthly payment are tightly connected. When rates move—up or down—the amount you'd pay each month on a new loan changes too. That's why it's worth checking in on your situation periodically, especially if you've been thinking about buying or refinancing but haven't pulled the trigger yet. A change in rates can open new doors (or close some), and your budget might look different than it did a few months ago. The good news is that understanding how rates affect what you can afford puts you in control of your timeline, not the market. I'm here to walk you through what your options look like right now.
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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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