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Mortgage Market Update
My Mortgage Company
Mai Hoang
Tuesday, November 3, 2026
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Have you thought about your home equity lately? |
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Hi there. This week I want to touch on something a lot of homeowners overlook until they need it—and that's the equity sitting in their home.
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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 & Options
What your home equity actually unlocks
If you've been in your home a few years, you likely have equity built up—money that's yours. A lot of borrowers don't realize how many options that opens up. You might refinance to a better rate, tap into it for a major expense, or simply understand what you could do if life changes. The key is knowing what you have and what makes sense for your situation. Equity isn't magic, but it is real wealth. If you're curious about your options or just want to understand your position better, I'm happy to walk through it with you, no pressure. Reach out anytime you'd like to talk through what your equity means for 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
Mai Hoang
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