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Mortgage Market Update
My Mortgage Company
Gigi Prieto
Tuesday, November 3, 2026
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You're building wealth every month |
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Hi there—I wanted to share something important about what happens behind the scenes with your mortgage. Your equity is quietly growing, and it might be worth more than you think.
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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
Your home is working for you—here's how
Every mortgage payment you make builds equity in your home. That's real wealth accumulating, even as you're simply paying to live somewhere. Over time, as your loan balance drops and your home's value can appreciate, your equity grows—and that opens doors. You might tap into it for a renovation, to fund education, or to buy another property. The catch is that not all loans let you access equity the same way, and it matters which path you choose. If you're curious whether you have equity available or how much, or if you're wondering whether a cash-out refinance or home equity line of credit makes sense for your situation, I'd love to take a look at your numbers. Reach out and we can talk through whether tapping your equity is the right move.
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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
Gigi Prieto
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