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Mortgage Market Update
My Mortgage Company
Jason Grantham
Tuesday, November 3, 2026
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How much equity are you building? |
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When you make a mortgage payment, something important is happening behind the scenes. Let me walk you through it.
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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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Equity Building
How your mortgage works for you over time
Every payment you make builds equity—money that belongs to you. Early on, most of your payment covers interest, but as time goes on, more of each payment goes straight toward ownership. This is why staying in your home longer often makes financial sense, and why refinancing can reset that clock. Understanding your loan's structure helps you make smarter decisions about whether to hold, refinance, or tap into the equity you've earned. The longer you're aware of how your mortgage is working, the better choices you can make. If you'd like to see how much equity you've built or explore whether a refinance makes sense for your situation, let's talk.
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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
Jason Grantham
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