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Mortgage Market Update
Brandy Feast
Brandy Feast
Saturday, October 31, 2026
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Where your mortgage payment actually goes |
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One thing a lot of homeowners don't think about is the hidden power of their monthly payment. I want to walk you through it.
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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
How your monthly payment builds wealth
Every mortgage payment you make does two things: it covers interest to the lender, and it builds equity in your home. Early on, more of your payment goes toward interest, but over time that ratio shifts and more goes straight into ownership. Understanding this matters because it reminds you that you're not just paying rent—you're building an asset. If your financial situation changes or you're curious whether your current loan structure is working in your favor, a conversation can show you exactly how your payments are working for you. It's worth checking in on. Reach out if you'd like to see how your specific loan is building your equity.
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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 Brandy Feast team any time and we'll walk you through your options. |
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