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Mortgage Market Update
My Mortgage Company
Stephanie Washington — Stephanie Washington
Saturday, October 31, 2026
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How much home do you actually own? |
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Hi there. This week I want to remind you of something that happens automatically while you sleep: building real wealth in your home.
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National Mortgage Rates · October 29, 2026
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Conventional 30-Year
7.15%
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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 an investment—here's how
Every payment you make builds equity in your home. That's real wealth accumulating whether rates go up or down. Over time, this equity becomes a tool—you can borrow against it if you need cash, tap it to avoid PMI on a future purchase, or simply own more of your home outright. The longer you stay, the faster it grows. It's one of the quietest but most powerful parts of homeownership that often goes unnoticed. If you've been in your home for a while, you might be surprised how much equity you've already built. I'd love to talk through what that means for your situation and what options it might open up. Let's take a look at your equity and what you can do with it.
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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
Stephanie Washington — Stephanie Washington
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