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Mortgage Market Update
My Mortgage Company
Robie Chapa's Team
Tuesday, November 3, 2026
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How much equity are you sitting on? |
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Hi there. This week I want to remind you of something powerful: your mortgage is building wealth for you automatically.
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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 working for you even while you sleep
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. Over time, this grows into real wealth. Some borrowers don't realize how much equity they've accumulated, which can open doors they didn't know existed: the ability to borrow against it for repairs, education, or other needs, or to make moves they've been thinking about. If you've owned your home for a few years, you might be surprised at what you've built. Understanding your equity is a smart first step to making it work smarter for you. Let's talk about what your home has done for you so far. Reach out anytime—I'm here to help you understand your equity and what options it unlocks.
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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
Robie Chapa's Team
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