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Mortgage Market Update
Brian Thompson
Brian Thompson
Saturday, October 31, 2026
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Building wealth one payment at a time |
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Hello,
One of the best parts of homeownership isn't always obvious at first. Let me explain.
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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 works for you over time
Every payment you make builds equity—the difference between what your home is worth and what you owe. Early on, most of your payment goes toward interest, but as time passes, more goes straight into ownership. This is why staying in your home matters. The longer you hold the loan, the more of each payment becomes real wealth in your pocket. If life circumstances change and you're thinking about selling, refinancing, or even using that equity later, it helps to know where you stand. I can pull a quick equity review anytime to show you exactly how your payoff is progressing. Reach out if you'd like to see where your equity stands today.
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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 Brian Thompson team any time and we'll walk you through your options. |
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