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Mortgage Market Update
My Mortgage Company
Carrie Nicholsky
Tuesday, November 3, 2026
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Building wealth, one payment at a time |
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Hi there. Every mortgage payment you make does more than keep a roof over your head—it's working for you in ways you might not see on the surface.
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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 Talk
Your home equity is a tool—here's why it matters
As you've been paying your mortgage, something valuable has been building quietly in the background: equity. That's the difference between what your home is worth and what you still owe on the loan. The longer you own your home, the more equity typically grows. Why should you care? Because equity can give you options down the road—whether that's borrowing against it for a major expense, building wealth over time, or having more negotiating power if you decide to sell. Understanding your equity position is one of the smartest money habits a homeowner can develop. If you've never looked at a home equity statement or aren't sure how much you have built up, that's worth a conversation. Let's talk about your equity position and what it might mean for your future.
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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
Carrie Nicholsky
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