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Mortgage Market Update
My Mortgage Company
Dwayne Bull
Tuesday, November 3, 2026
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Building wealth through your mortgage |
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I want to share something that changes how many homeowners think about their monthly payment. Your mortgage isn't just keeping a roof over your head—it's building your net worth.
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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
How your mortgage is working for you
Every payment you make builds equity—that's the difference between what your home is worth and what you owe. It's easy to think of your mortgage as just a monthly bill, but it's actually one of the most powerful wealth-building tools available to homeowners. Over time, as you pay down principal, you're literally building ownership. That equity can open doors later: maybe a home improvement project, a lower-cost loan, or even a bigger move down the road. The sooner you understand how much equity you're sitting on, the sooner you can make smarter decisions about your home and finances. Let's talk about your equity position and what options might be available to 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
Dwayne Bull
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