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Mortgage Market Update
My Mortgage Company
Deanna Parrish
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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I talk with homeowners all the time who are sitting on more home equity than they realize. Here's why that matters and what you might do about it.
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National Mortgage Rates · November 2, 2026
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Conventional 30-Year
7.13%
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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 & Home Value
Your home equity—and what you can do with it
A lot of homeowners don't realize how much equity they've built up, or what options that opens. Whether you've been in your home for a few years or longer, you may have accumulated real wealth in the form of home equity—the difference between what your home is worth and what you still owe on it. That equity can be a powerful financial tool. You might tap into it for a major expense, a home improvement, or consolidating debt. There are several ways to access it, each with different terms and costs. The right choice depends on your situation, your timeline, and what works with your budget. If you're curious whether your equity could work for you, I'd love to walk you through your options. Get in touch and we can talk through what makes sense for your home and your goals.
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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
Deanna Parrish
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