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Mortgage Market Update
My Mortgage Company
Lamar Moore
Tuesday, November 3, 2026
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What your home equity could do for you |
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Most of my clients don't realize how much financial flexibility they've built into their homes. Today I want to show you what that might look like for you.
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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 Access
You may have more borrowing power than you think
If you've been paying your mortgage for a while, you've likely built equity in your home — money you own outright. That equity can be a real financial tool when you need it. Whether it's a major home repair, education costs, or consolidating debt, a cash-out refinance or home equity line lets you tap what you've already paid for, often at rates better than credit cards or personal loans. The key is understanding whether accessing that equity makes sense for your situation right now. It's not always the right move, but for many homeowners it's a smart option worth exploring. I'd be happy to walk through what you might qualify for and whether it aligns with your goals. Let's talk about whether your equity can work 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
Lamar Moore
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