Mortgage Market Update

Ryan Leahy

Tuesday, November 3, 2026

How your mortgage builds wealth

Hi there. This week I want to remind you of something that happens quietly in the background of homeownership—and why it matters.

National Mortgage Rates · November 2, 2026

Conventional 30-Year

7.13%

FHA 30-Year

6.96%

VA 30-Year

6.76%

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.

Equity Building

Your home is working for you (even when you sleep)

Every mortgage payment you make does two things: it covers interest to your lender, and it builds equity in your home. That second part is yours. Over time, as you pay down your loan balance and your home holds or gains value, that equity grows—and it can become a real financial tool down the road. Some borrowers tap into it later for home improvements, education, or other big expenses. The point is, homeownership isn't just about having a place to live. It's a way to build real wealth, one payment at a time. If you're curious about how much equity you might have right now, or how it could work for you in the future, I'd love to talk through it.

Reach out if you'd like to discuss your equity and what options might make sense for your situation.

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.

Tips for Homeowners

Co-Signing a Mortgage: What You're Really Agreeing To

1.	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.

2.	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.

3.	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.

Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the Ryan Leahy team any time and we'll walk you through your options.

Your Mortgage Advisor

Ryan Leahy

ryan@familymtg.com

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