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Mortgage Market Update
Mimi Boussekine
Mimi Boussekine
Tuesday, November 3, 2026
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How your mortgage builds wealth |
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One of the best parts of homeownership happens quietly every month. I want to walk you through how it works and what you might do with it.
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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 mortgage is working harder than you think
Every payment you make builds equity in your home—that's the difference between what your home is worth and what you owe on it. Over time, this grows into real wealth you can tap into. Some people use it to fund home improvements, cover unexpected expenses, or lower their monthly payment through a refinance. The longer you're in your home, the faster this happens. If you've been paying your mortgage for a few years, you might be surprised how much equity you've already built up. It's worth taking a look at what you have available, and then we can talk about whether it makes sense to use it. Let's sit down and review your current equity position—no obligation.
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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 Mimi Boussekine team any time and we'll walk you through your options. |
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