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Mortgage Market Update
Jessica Higgins
Jessica Higgins
Tuesday, November 3, 2026
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The part of your payment you don't see working |
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Every mortgage payment tells a story. Most homeowners don't realize how much of that story is about building wealth.
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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 mortgage is working for you every month
A lot of people think of their mortgage payment as money disappearing into thin air. The truth is different: with each payment you make, you're building equity in your home. Part of what you pay goes toward interest, yes—but the rest goes toward actually owning more of your property. Over time, that adds up. The longer you stay in your home, the more equity you accumulate, and the more financial flexibility that gives you down the road. Whether you're thinking about a major home project, facing an unexpected expense, or wondering about your long-term wealth building, understanding your equity matters. I'd be happy to walk you through what your current situation looks like. Let's talk about your equity and what it means for your financial 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 Jessica Higgins team any time and we'll walk you through your options. |
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