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Mortgage Market Update
Kurt Kessler
Kurt Kessler
Tuesday, November 3, 2026
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How much of your home do you actually own? |
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A lot happens behind the scenes with your mortgage. This week, I want to shine a light on one of the most powerful parts of homeownership.
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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
What your mortgage is actually doing for you
Every payment you make builds equity—that's the part of your home you actually own. It's one of the best reasons to own instead of rent, yet a lot of homeowners don't think about it or track it over time. As you pay down your loan, you're building real wealth. That equity can become useful later, whether you want to tap it for a major expense, refinance into better terms, or simply own your home free and clear. Understanding how much equity you have right now is the first step to making smart decisions about your mortgage down the road. If you're curious where you stand or want to talk through how to build equity faster, I'm here to help. Let's review your current equity and talk about what makes sense 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 Kurt Kessler team any time and we'll walk you through your options. |
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