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Mortgage Market Update
My Mortgage Company
Russell Kesterson
Tuesday, November 3, 2026
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How much equity are you sitting on? |
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Hi there. This week I want to talk about something that quietly works in your favor every single month.
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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 Unlocked
What your home is building for you right now
Every mortgage payment you make does two things: it covers interest to your lender, and it builds equity in your home. Over time, that equity becomes real wealth you can access. Some borrowers don't realize how much they've already built up, or what they might do with it—whether that's a home renovation, covering an expense, or simply knowing they're further ahead than they were last year. The longer you hold your mortgage, the more of each payment goes toward equity instead of interest. It's worth taking a moment to see where you stand. I'd be happy to walk you through your equity position and talk about what options might make sense for your situation. Let me help you understand what you've built—just reach out when you're ready.
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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
Russell Kesterson
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