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Mortgage Market Update
Jody Canfield
Jody Canfield
Tuesday, November 3, 2026
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You're building wealth every month |
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Hi there. I wanted to share something that often gets overlooked when people talk about mortgages: what your payment actually does for you over 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
Why your home is working harder than you think
Every mortgage payment you make does two things: it covers interest to your lender, and it builds equity—real ownership stake—in your home. Over time, that second part grows, especially if your home's value holds steady or increases. The earlier you start, the more equity you accumulate before you might need it. That equity can become a powerful resource down the road, whether you're facing a major expense, want to refinance into better terms, or planning your next move. The point isn't to obsess over it month to month—it's to understand that your payment is an investment in something you actually own. If you'd like to talk through how your specific loan is building equity or explore whether your current situation makes sense, I'm here to walk through it with you. Let's talk about your equity story and what it means for your future.
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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 Jody Canfield team any time and we'll walk you through your options. |
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