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Mortgage Market Update
My Mortgage Company
Anthony Alzate
Tuesday, November 3, 2026
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The wealth you're building every month |
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Here's something that happens quietly in the background of homeownership: you're building wealth whether you think about it or not.
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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 working for you—here's how
Every mortgage payment you make builds equity in your home. That's real wealth accumulating month after month, separate from what happens with interest rates or market values. The longer you own, the more of each payment goes toward ownership instead of interest—a shift that happens automatically as your loan matures. If you've owned your home for a few years, you likely have more equity than you realize. Some people tap into that equity to fund improvements, consolidate debt, or handle life's bigger expenses. Others just let it grow. Either way, it's worth understanding what you have and what options might be available to you. If you're curious about your equity position or wondering whether it makes sense to use it, I'd love to walk through the numbers with you. Let's talk about what your equity means for your situation.
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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
Anthony Alzate
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