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Mortgage Market Update
Kurt Kessler
Kurt Kessler
Tuesday, November 3, 2026
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What your mortgage payments are really building |
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Hi there. I want to walk you through something about your mortgage that often goes unnoticed—but shouldn't.
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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—here's how
Every mortgage payment you make builds equity—the portion of your home you actually own. Early on, most of your payment goes toward interest, but over time, more and more goes straight into ownership. This matters because equity is real wealth. You can borrow against it if you need cash, use it to fund home improvements, or tap it when life changes. The longer you stay in your home and the more you pay down the loan, the faster your equity grows. If you've owned for a few years, you might be surprised how much you've already built. Understanding your equity position helps you make smarter decisions about your finances and your home's future. Let's talk about how much equity you have and what options it opens up 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 Kurt Kessler team any time and we'll walk you through your options. |
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