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Mortgage Market Update
My Mortgage Company
FLO Mortgage NMLS 1835856
Tuesday, November 3, 2026
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Your home is building wealth for you |
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Hi there. I wanted to touch on something that often goes overlooked when people think about their mortgage—the quiet financial engine working in the background.
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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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Home Equity
Your home builds wealth while you sleep
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this becomes real money you can access if you need it. Some people tap into their equity for home improvements, education, or unexpected expenses through a loan or line of credit. Others simply let it grow, knowing it's there. The amount of equity you have depends on your home's value and how much principal you've paid down, so it's worth checking in on periodically. If you'd like to understand how much equity you've built or what options might be available to you, I'm happy to walk through the numbers. Let's talk about what your equity means for your situation.
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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
FLO Mortgage NMLS 1835856
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