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Mortgage Market Update
My Mortgage Company
Kristopher Matyas
Tuesday, November 3, 2026
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How much of your payment builds ownership |
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Hi there. I wanted to share something that often gets overlooked in mortgage conversations—but matters more than people realize.
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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 Basics
How your mortgage builds wealth over time
Every payment you make goes toward two things: interest (which pays your lender) and principal (which builds your equity—your ownership stake in the home). Early on, most of your payment covers interest. But as time passes, that balance shifts, and more of each payment goes toward equity. This is one of the powerful ways homeownership differs from renting: you're building real wealth month after month. If your situation has changed since you bought—or if you're thinking about a purchase—understanding how equity works can help you make smarter decisions about refinancing, borrowing, or your next move. Let's talk about what your equity means for your 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
Kristopher Matyas
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