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Mortgage Market Update
Kenna Siders
Kenna Siders
Saturday, October 31, 2026
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How your mortgage payment actually works |
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A lot of homeowners don't realize just how much of their payment goes toward building ownership each month. Let me 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
You're building wealth every month—here's how
Every mortgage payment you make does two things: it covers interest and it builds equity in your home. That equity is real ownership, and it grows over time as you pay down your loan balance. The longer you stay in your home, the faster that equity accumulates—and the more options open up to you down the road, whether that's accessing funds for a major expense or refinancing into better terms if the market shifts in your favor. Understanding how your payments work for you is one of the best ways to feel confident about your mortgage. If you'd like to talk through your specific situation and see where your equity stands, I'm here to help. Let's review your loan and see what your equity picture looks like.
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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 Kenna Siders team any time and we'll walk you through your options. |
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