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Mortgage Market Update
My Mortgage Company
Joseph Cowart — Joseph Cowart
Tuesday, November 3, 2026
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Your home is building wealth for you |
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Every payment you make strengthens your financial position. Here's what you should know about the equity you're building.
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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—even when you're not
Every mortgage payment you make builds equity in your home. It's one of the most powerful wealth-building tools available, and it happens automatically. Over time, as you pay down your loan and your home's value changes, that equity grows—giving you options down the road. Some people tap into their home equity to fund major repairs, education, or other goals. Others let it accumulate as a long-term financial cushion. The key is understanding what you have and what's possible. I'd be happy to walk you through where you stand and discuss whether your current loan is working as hard for you as it should be. Let's talk about your equity and what it could mean for your financial picture.
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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
Joseph Cowart — Joseph Cowart
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