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Mortgage Market Update
My Mortgage Company
LokelList
Tuesday, November 3, 2026
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You're building wealth every month |
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Hi there. I wanted to check in with something that often gets overlooked: the real progress you're making as a homeowner.
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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—even if you don't realize it
Every mortgage payment you make builds equity in your home. That's money that stays with you, not money that goes away. Over time, as you pay down your loan balance and your home's value may appreciate, your equity grows—and that opens doors. You might tap it for a large expense, use it to refinance into better terms, or simply know you're building real wealth with every payment. The catch is that equity doesn't happen by accident; it takes time and consistency. If you're curious about how much equity you've built since you bought, or what your options might be if you wanted to use it, I'd be happy to walk you through it. There's no obligation—just a conversation about your real asset. Let me show you what your equity position looks like today.
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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
LokelList
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