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Mortgage Market Update
My Mortgage Company
Darius Bryant — Darius Bryant
Saturday, October 31, 2026
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How much equity are you sitting on? |
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Building wealth through homeownership happens quietly — but it happens. Here's what you should know about the equity you're creating.
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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 & Access
Building equity faster than you might think
Every mortgage payment you make builds equity in your home — that's the portion of your payment that goes toward ownership rather than interest. Early on, most of your payment covers interest, but as time passes, more goes straight to equity. If your home has gained value since you bought it, that's equity too. Understanding what you've built can open doors: you may be able to tap into that equity for home improvements, education, or other needs through a refinance or home equity option. The longer you own, the stronger your position becomes. Want to know roughly where you stand with your equity? I'm happy to take a look at your situation. Reach out anytime if you'd like to talk through your equity or explore what options might be available to you.
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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
Darius Bryant — Darius Bryant
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