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Mortgage Market Update
My Mortgage Company
Levelup Coaching
Tuesday, November 3, 2026
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How much could you borrow against your home? |
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Building equity in your home is one of the smartest financial moves you can make. But equity is only useful if you know how to access it when you need 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 & Borrowing
Your home equity is a financial tool—here's how to use it
As you pay down your mortgage, you build equity—real wealth sitting in your home. Many homeowners don't realize they can tap into that equity through a refinance or a home equity line of credit (HELOC) when they need funds for major expenses, home improvements, or life changes. The key is understanding which option fits your situation: a cash-out refinance rolls the funds into a new loan, while a HELOC works more like a credit line you draw from as needed. Both have trade-offs worth discussing. If you're wondering whether your equity could work harder for you, let's talk through your options and what makes sense for your goals. Reach out and we can review how much equity you have and what borrowing 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
Levelup Coaching
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