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Mortgage Market Update
Brandt Myers
Brandt Myers
Tuesday, November 3, 2026
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Do you know how much equity you've built? |
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Every homeowner's situation is different, and understanding your own financial picture is the first step to making smart moves. This week I want to highlight something powerful that's been working in your favor all along.
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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 mortgage is making you wealthier every month
Here's something that often goes unnoticed: every payment you make builds equity in your home. Unlike rent, your money is going toward something you own. As time passes and you pay down your loan balance, that equity grows—and it can become a real financial asset when you need it. Whether you're thinking about a home improvement, handling an unexpected expense, or planning ahead, knowing what you've built gives you options. If you've owned your home for a few years, you may have more equity than you realize. I'd be happy to give you a clear picture of where you stand. Let's talk about what your equity position looks like and what it could mean 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 Brandt Myers team any time and we'll walk you through your options. |
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