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Mortgage Market Update
My Mortgage Company
Angela Sanchez
Tuesday, November 3, 2026
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Does a rate drop make your home worth more? |
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Rates have been on a lot of people's minds lately. But there's another side to falling rates that deserves 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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Equity Building
What happens to your equity when rates drop
One of the best parts of homeownership is that every payment builds equity—the difference between what your home is worth and what you owe. But equity isn't just about paying down your loan. When rates fall, your home's value often rises, which means your equity grows even faster. If that happens, you may have new options: refinancing to a better rate, tapping that equity for a major project, or simply watching your net worth climb. It's worth checking in on where you stand and what possibilities might open up for you. Let's talk about your equity and what it could mean for your next move.
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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
Angela Sanchez
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