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Mortgage Market Update
Joseph R Garner
Joseph R Garner
Tuesday, November 3, 2026
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Building wealth one payment at a time |
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One of the best-kept secrets about owning a home is how steadily it works in your favor. Let me show you how.
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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 doing work for you every month
Every mortgage payment you make builds equity—the difference between what your home is worth and what you still owe. It's one of the quiet wins of homeownership that often goes unnoticed. Over time, as you pay down principal and your home may appreciate, that equity grows into real financial flexibility. You can tap it for major expenses, use it as a down payment on another property, or simply hold it as a safety net. The sooner you understand how much equity you're building, the better you can plan around it. I'd be happy to walk you through where you stand and what options that opens up. Let's talk about your equity and what it means for your financial picture.
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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 Joseph R Garner team any time and we'll walk you through your options. |
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