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Mortgage Market Update
My Mortgage Company
Sarah Hubbard
Tuesday, November 3, 2026
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The equity sitting in your home right now |
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One of the best-kept secrets about homeownership is that your monthly payment is doing double duty. Not only are you building a place to live—you're building wealth, one payment at a time.
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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 equity is money you can actually use
Most homeowners don't realize how much wealth they've built over time. Every mortgage payment chips away at what you owe, and as your home's value holds or grows, you're gaining equity—real financial cushion. That equity can become useful down the road, whether you need funds for a home improvement, education, or another goal. The longer you stay in your home and keep paying, the more options open up. If you've owned for a few years, it's worth understanding what you have available. I'd be happy to walk through your situation and show you what your equity picture looks like right now. Reach out and we can take a quick look at your home's equity together.
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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
Sarah Hubbard
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