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Mortgage Market Update
Angela Comstock
Angela Comstock
Tuesday, November 3, 2026
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Does your loan type match your timeline |
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Hi there. This week I want to talk about something that matters more than most people realize when they're picking a mortgage.
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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 loan choice affects how fast you build equity
Every mortgage payment you make builds equity in your home, but the speed depends on which loan program you choose. A shorter loan term means more of each payment goes toward principal instead of interest, so you own more of your home sooner. A longer term spreads payments out, which means lower monthly costs but slower equity growth. There's no universal "best" choice—it comes down to your budget, your timeline, and your goals. If you're thinking about staying in your home for a while, or wondering whether a different loan structure might work better for your situation, I'd love to talk through the trade-offs with you. Reach out if you'd like to explore how different loan types could shape your equity over time.
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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 Angela Comstock team any time and we'll walk you through your options. |
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