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Mortgage Market Update
My Mortgage Company
Joseph A Worrell - For Deletion
Tuesday, November 3, 2026
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Building wealth one payment at a time |
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It's easy to think of a mortgage as just a monthly bill. But it's actually something much better—a path to building real wealth in your home.
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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 mortgage works for you over time
Every payment you make builds equity in your home—that's the difference between what your house is worth and what you still owe. Early on, most of your payment goes toward interest, but over time, more goes toward principal. Understanding this matters because equity is real wealth you're building, and it can open doors later: refinancing options, home equity lines of credit, or cash-out opportunities when you need it. The longer you stay in your home and the more you pay down, the stronger your position becomes. If you're curious about where you stand with your current loan, I'd love to take a look. Let's talk about your equity and what it means for your financial future.
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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
Joseph A Worrell - For Deletion
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