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Mortgage Market Update
My Mortgage Company
Keith Collins — Keith Collins
Saturday, October 31, 2026
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You've probably built more equity than you think |
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Hi there—I wanted to share something that often surprises homeowners when we sit down together. Here's what I mean:
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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 while you sleep
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Many homeowners don't realize how much equity they've accumulated over time, especially if they've been in their home for several years. That equity can become a tool: it opens doors to lower rates on refinances, funding for home improvements, or even cash when life happens. The sooner you understand your equity position, the sooner you can use it strategically. If you're curious about what you've built so far, I'd love to walk through your numbers with you. Let's talk about the equity in your home and what options it creates for 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
Keith Collins — Keith Collins
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