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Mortgage Market Update
My Mortgage Company
Nathan Grant
Tuesday, November 3, 2026
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Building wealth with every payment |
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Hi there. A lot of homeowners never stop to think about the equity they're building in their home. Here's why they should.
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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 mortgage pays you back
Every payment you make builds equity—the difference between what your home is worth and what you owe. Most people don't realize how fast that adds up, especially early on when you're paying down principal alongside interest. Understanding your equity matters because it's real wealth you're creating, and it opens doors down the road: home improvements, emergencies, or even tapping into that value if life changes. The sooner you see your mortgage as an equity-building tool, not just a monthly bill, the more intentional you can be about your finances. Let's talk about where your equity stands and what it means for your goals.
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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
Nathan Grant
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