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Mortgage Market Update
My Mortgage Company
Jennifer Bedford — Jennifer Bedford
Tuesday, November 3, 2026
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How much equity have you built? |
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Hi there—I've been thinking a lot lately about how many homeowners don't realize the power they already have in their homes. Let me explain.
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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 Talk
Your home builds wealth while you sleep
Every mortgage payment you make does two things: it covers interest and fees, but it also chips away at what you owe. That second part is equity—real ownership you're building month after month. The longer you stay in your home, the more of each payment goes toward equity instead of interest. This is one of the quietest wealth builders available to homeowners, and it's already working for you if you have a mortgage. If you've owned your home for a few years, you may have accumulated enough equity to tap into it for major expenses, home improvements, or other financial goals. Want to know how much equity you're sitting on? I can help you find out. Reach out and we can talk about what your equity could do for you.
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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
Jennifer Bedford — Jennifer Bedford
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