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Mortgage Market Update
My Mortgage Company
Lacie Anvik
Tuesday, November 3, 2026
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Your monthly payment is doing more than you think |
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Every payment counts toward building something real. Here's how it 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
How your monthly payment builds wealth
Every mortgage payment you make does two things: covers the interest your lender charges, and chips away at what you actually owe. That second part—principal—is equity. It's real wealth building, and it happens automatically every month you pay on time. The earlier you are in your loan, the slower equity grows because more of your payment goes to interest. But as time passes, that balance flips, and more of each payment builds your stake in the home. Understanding this matters because equity is money you can tap into later through refinancing or a home equity line of credit, or it's simply yours to keep when you sell. It's one of the most underrated benefits of homeownership. If you're curious about how much equity you might have now or how to use it strategically, I'd be happy to walk through your specific situation. Reach out if you'd like to talk about your equity or explore options that might work for you.
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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
Lacie Anvik
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