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Mortgage Market Update
My Mortgage Company
Seth Feinman
Tuesday, November 3, 2026
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What your mortgage payments are actually building |
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One of the best parts of homeownership is often the quietest: every month, you're building real equity. Let me explain how it works and why it matters.
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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 an investment—here's how
Every payment you make builds equity in your home. That's money you're building toward ownership instead of sending to a landlord. As you pay down your loan balance, you own a larger piece of your property—and that ownership has real value. The longer you stay in your home, the more equity you accumulate. Understanding this can help you make smarter decisions about whether to refinance, tap into your equity later, or hold steady. I'd be glad to walk you through where you stand and what your equity could mean for your future. Get in touch if you'd like to talk about your equity position or what refinancing options might look like.
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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
Seth Feinman
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