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Mortgage Market Update
My Mortgage Company
Keith Collins — Keith Collins
Saturday, October 31, 2026
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You're building wealth faster than you think |
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One of the best parts of owning a home isn't talked about enough: the quiet, steady way it builds your net worth.
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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
The wealth you're building with every payment
Every mortgage payment you make does two things: it covers interest and taxes, and it builds your ownership stake in your home. That second part—your equity—is real wealth, and it grows whether rates go up or down. The longer you stay in your home and the more principal you pay off, the more equity accumulates. This matters because equity can become a financial tool later: it's what you'd walk away with if you sold, and it's what you can borrow against if you need cash for a major expense or opportunity. Many homeowners don't realize how quickly this adds up, especially in the early years when you might not feel like you're building much. But you are. If you'd like to understand exactly how much equity you have right now, or how your payoff timeline affects your wealth-building, I'm here to walk you through it. Let's talk about what your home equity means for your financial picture.
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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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