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Mortgage Market Update
Ryan Leahy
Ryan Leahy
Saturday, October 31, 2026
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You're building equity every single month |
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Hi there,
One of the best-kept secrets about homeownership is how your mortgage works in your favor over time.
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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 monthly payment works for you
Every mortgage payment you make does two things: it covers interest to your lender, and it builds equity in your home. Early on, more of your payment goes toward interest. But as time passes, that balance shifts—more and more of each payment becomes equity you actually own. This is one reason why staying in a home longer often makes financial sense, and why understanding your loan structure matters. Whether you're on a 15-year, 30-year, or another timeline, you're building real wealth with every payment. If you'd like to see how your specific situation breaks down, I'm happy to walk through the numbers with you. Let's talk about your equity strategy.
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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 Ryan Leahy team any time and we'll walk you through your options. |
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