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Mortgage Market Update
My Mortgage Company
Scott Isner
Tuesday, November 3, 2026
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How much equity do you actually have? |
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One of the questions I hear most often from homeowners is whether their monthly payment is really doing anything for them. The answer might surprise you.
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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 monthly payment works harder than you think
Every time you make a mortgage payment, two things happen: part goes toward interest, and part builds equity in your home. Early on, interest takes the bigger slice—but that balance shifts over time. The longer you stay in your home, the more of each payment goes directly toward ownership. If you've owned for a few years, you might be surprised how much equity you've already built up. That equity is real wealth, and it can open doors later—whether you want to refinance, tap into it, or simply understand your growing net worth. Understanding how your paydown works is the first step to making smarter decisions about your mortgage long-term. I'd be happy to walk you through where you stand and what options might make sense 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 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
Scott Isner
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