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Mortgage Market Update
My Mortgage Company
Bret Bushman CRM
Tuesday, November 3, 2026
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What your monthly payment is actually building |
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One of the best-kept secrets about owning a home is how quietly your wealth grows. I want to walk you through how that works.
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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
Why your mortgage is an investment in yourself
Every payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this grows into real wealth. It's one of the reasons homeownership matters so much: you're not just paying for shelter, you're building something you own. The sooner you understand your equity position, the sooner you can think clearly about what comes next—whether that's staying put for years, or using that equity down the road for something important like a home improvement or life change. Want to know where you stand right now? Let's talk about your equity and what it means 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
Bret Bushman CRM
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