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Mortgage Market Update
My Mortgage Company
Jessica Portillo — Jessica Portillo
Saturday, October 31, 2026
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You're building wealth with every payment |
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Hi there. I wanted to share something that often gets overlooked when we talk about mortgages: the real wealth being built in your account.
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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 home is working for you—here's how
Every mortgage payment you make builds equity in your home. That's money that stays with you, growing over time as you pay down your loan balance. Some borrowers forget about this powerful tool until they need it—for home improvements, education, or unexpected expenses. The sooner you understand how much equity you may have and what you might do with it, the better you can plan ahead. Whether you're early in your loan or years in, it's worth a conversation about where you stand and what options might be available to you down the road. Let's sit down and review your home's equity and what it could mean for your future.
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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
Jessica Portillo — Jessica Portillo
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