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Mortgage Market Update
Tim Stacey
Tim Stacey
Tuesday, November 3, 2026
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How much of your home do you actually own? |
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Your mortgage payment does more than keep a roof over your head. A portion of it builds wealth in the form of home equity—and understanding that can open up real opportunities down the road.
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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 home is working for you
One of the best parts of owning a home is that your monthly payment builds equity—the portion of the home that's actually yours. Every dollar you pay toward principal (not interest) is money staying in your pocket, not going to a landlord. Over time, that equity grows, and it can become a real asset you can tap into if you need it. Understanding how much equity you have and how it accumulates helps you make smarter decisions about refinancing, home improvements, or borrowing against your home down the road. If you're not sure where you stand, I'd love to walk you through it. Let's talk about your equity and what it means for your financial picture.
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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 Tim Stacey team any time and we'll walk you through your options. |
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