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Mortgage Market Update
My Mortgage Company
Lacie Anvik
Tuesday, November 3, 2026
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Your home is building money for you |
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Hi there—this week I want to walk you through something that quietly works in your favor every single month.
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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 balance matters less than you think
Every payment you make builds equity—the difference between what your home is worth and what you owe. But here's what many homeowners miss: equity isn't just about payoff progress. It's a financial tool. As you build it, you gain options: the ability to borrow against it for repairs or major expenses, the flexibility to refinance into better terms, or the cushion that protects you if the market shifts. The sooner you understand how much equity you're sitting on, the sooner you can make strategic decisions about your home and your finances. I'd be happy to run the numbers and show you what opportunities might be available to you. Let's talk about what your equity means for your situation.
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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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