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Mortgage Market Update
My Mortgage Company
Quyen Nguyen — Quyen T Nguyen
Saturday, October 31, 2026
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How much equity do you have right now? |
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Your mortgage is doing more for you than keeping a roof over your head. Each payment is quietly building your wealth—and you should know how much you've already earned.
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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
You're building wealth faster than you think
Every mortgage payment you make does two things: it covers interest and it builds equity in your home. That second part matters more than most people realize. As you pay down your loan balance, you own more of your home outright—and that equity can become useful down the road, whether you're planning a major renovation, facing unexpected expenses, or thinking about your next move. The sooner you understand how much equity you've built, the better decisions you can make. If you haven't reviewed your home's current value and loan balance recently, now's a good time to do it. I can help you see where you stand and talk through your options. Let's have a quick conversation about your home equity and what it means 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
Quyen Nguyen — Quyen T Nguyen
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