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Mortgage Market Update
My Mortgage Company
Javier Martinez's Account
Tuesday, November 3, 2026
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How much equity do you actually have? |
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Hi there. I wanted to touch on something that quietly works in your favor every single month—and many homeowners don't pay it enough attention.
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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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Home Equity
Building equity faster than you think
Every mortgage payment you make builds equity in your home—that's the difference between what you owe and what your home is worth. The longer you own, the more equity accumulates. Some borrowers are surprised to learn how much they've built up, especially if they've owned for several years or if their home's value has grown. Understanding your equity matters because it opens doors: you may be able to tap into it for major expenses, renovations, or other financial goals. The best time to explore what's possible is before you need it. If you're curious about your current equity position or what it could mean for your situation, I'd love to walk you through it. Let's talk about your equity and what options might be available to 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
Javier Martinez's Account
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