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Mortgage Market Update
My Mortgage Company
Kaden Harris — Kaden Harris CRM
Saturday, October 31, 2026
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You're building wealth every single month |
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One of the best parts of owning a home isn't flashy—it's quiet. Every payment chips away at what you owe and grows what you own.
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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 Basics
Your home builds wealth while you sleep
Every mortgage payment you make does two things: it covers interest and taxes, but it also builds equity—the portion of your home you actually own. Over time, as you pay down the loan balance, that equity grows. It's real wealth sitting in your walls, and it's one of the reasons homeownership has long been a cornerstone of financial stability. The sooner you understand how much equity you've built, the sooner you can make smart decisions about what to do with it—whether that's refinancing to better terms, pulling equity for a major expense, or simply enjoying the peace of mind that comes with owning more of your home each month. If you'd like to talk through how much equity you may have built, I'm here to walk you through it.
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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
Kaden Harris — Kaden Harris CRM
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