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Mortgage Market Update
My Mortgage Company
Michael Easton — Michael Easton Powered by Edge Home Finance
Tuesday, November 3, 2026
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You're building equity faster than you think |
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Every mortgage payment does double duty: it keeps a roof over your head and builds your net worth at the same time.
Here's why that matters.
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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 quietly building your wealth
Most of us think about our mortgage as just a monthly bill. But here's what's actually happening: every payment you make builds equity—real ownership stake in your home that grows over time. As your loan balance drops and your home holds its value, that equity becomes a financial asset you can tap into if you need it, or simply carry forward into your next chapter. The longer you stay in your home, the more powerful this effect becomes. It's one of the underrated reasons homeownership matters so much. If you've been in your home for a few years, you might have more equity than you realize—and it's worth understanding what that means for your financial picture. Let's talk about what you've built so far and what your options might be.
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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
Michael Easton — Michael Easton Powered by Edge Home Finance
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