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Mortgage Market Update
My Mortgage Company
Trishana Kimble — Trishana Kimble
Saturday, October 31, 2026
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Your mortgage is building wealth—here's how |
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One of the best-kept secrets about homeownership is how quietly your equity grows. Let me explain what's really happening with each payment.
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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
How your mortgage actually builds wealth
Every payment you make toward principal is money going into your own pocket—not your lender's. That's equity, and it's one of the most powerful wealth-building tools available to homeowners. Over time, as you pay down your loan balance and your home value potentially appreciates, that equity grows. You can tap into it later through refinancing, a home equity loan, or simply by selling. The sooner you own your home outright, the sooner housing costs drop dramatically. Understanding how your payments chip away at what you owe helps you see the long game. If you're curious about how much equity you might have built, or whether it makes sense to put extra money toward principal, I'd love to walk you through it. Let's talk about your home's equity and what it could mean for your future.
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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
Trishana Kimble — Trishana Kimble
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