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Mortgage Market Update
My Mortgage Company
JV Mortgage
Tuesday, November 3, 2026
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Your equity is growing every month |
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One of the best things about being a homeowner is what happens behind the scenes. As you make payments, something valuable is quietly building.
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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 building wealth every month
Every mortgage payment you make builds equity—the portion of your home you actually own. As you pay down the loan, your stake in the property grows. This matters because equity can become a financial resource down the road. Some homeowners tap into it through a refinance or home equity line of credit if they need cash for repairs, education, or other goals. The longer you own and the more you pay, the more equity you have to work with. If you've been in your home for a few years, you might be surprised how much you've already built. It's one of the quietest wealth-builders available to homeowners, and it happens whether you're thinking about it or not. I'm happy to pull together a quick equity snapshot for your home if you'd like to see where you stand.
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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
JV Mortgage
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