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Mortgage Market Update
My Mortgage Company
Carli Anderson — Carli Anderson CRM
Saturday, October 31, 2026
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When rates change, here's what happens next |
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A lot of people ask me how rising or falling rates affect their monthly payment. Let me break it down for you.
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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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Payment Planning
What happens to your payment when rates move
If you've been watching rates, you might wonder what a shift means for your monthly payment. Here's the straightforward truth: when rates go up, your payment goes up (and vice versa). The size of that change depends on your loan amount and how much rates moved. Some borrowers lock in a rate early to protect themselves; others wait and see. There's no single right answer—it depends on your comfort level and timeline. The key is understanding your options before you commit. If you're shopping for a home or thinking about refinancing, knowing how rate changes affect your payment helps you make a confident decision. I'm happy to walk through the numbers with you and show exactly what different scenarios look like. Reach out anytime if you'd like to talk through what a rate move 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
Carli Anderson — Carli Anderson CRM
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