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Mortgage Market Update
My Mortgage Company
Seth Feinman
Tuesday, November 3, 2026
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You're building wealth every month |
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Your mortgage does more than give you a place to live—it's also a wealth-building tool. Here's what you should know.
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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 working harder than you think
Every payment you make builds equity—the portion of your home you actually own. Most borrowers think about equity only when considering a refinance or sale, but it's worth paying attention to regularly. As you pay down your loan balance, you're building real wealth. If your home's value has moved since you bought it, that's another equity boost. Understanding where you stand matters because equity opens doors: it can qualify you for a home equity line of credit if you need cash, it lowers your risk if rates spike, and it's real money in your pocket. I'd be happy to help you get a clear picture of your equity position and what options might make sense for your situation. Let's talk about what your equity position looks like and what it means for your next steps.
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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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