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Mortgage Market Update
My Mortgage Company
Capital Mortgage Source - Salem
Tuesday, November 3, 2026
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What happens to equity over time? |
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One of the things I love about working with homeowners is seeing how their financial picture changes. Over time, your home builds real wealth 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 & Borrowing
Your home equity could be working harder
If you've been in your home for a few years, you likely have equity built up—money that's just sitting there. Some homeowners tap into that equity when they need cash for major expenses, home improvements, or consolidating debt. It's one of the real financial advantages of homeownership that a lot of people forget about until they need it. The good news is there are a few flexible ways to access it, each with different terms and benefits. The key is understanding which option fits your situation and your budget. If you're curious whether your equity could help you right now, I'd love to walk through your options with you. Let's talk about whether tapping your home equity makes sense 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
Capital Mortgage Source - Salem
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