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Mortgage Market Update
My Mortgage Company
Fernando Radillo
Tuesday, November 3, 2026
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You're building more than you think |
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Hello, I wanted to share something that often gets overlooked when people talk about mortgages: your monthly payment is actively building your wealth, not just keeping a roof over your head.
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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 Basics
Your home builds wealth while you sleep
Every mortgage payment you make does two things: it pays interest to your lender, and it pays down your principal — which is your equity. Over time, as your balance shrinks and your home's value holds or grows, you're building real wealth. That equity can become a tool later — whether you want to tap it for a major expense, refinance into better terms, or simply own your home free and clear. The sooner you understand how much equity you have, the sooner you can think strategically about your next move. I'm here to help you figure out where you stand and what options might make sense for your situation. Let's take a look at your equity and talk through 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 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
Fernando Radillo
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