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Mortgage Market Update
My Mortgage Company
David Schindel
Tuesday, November 3, 2026
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What's your home worth right now? |
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One of the least-talked-about benefits of homeownership is building wealth over time. Let me explain what that means and how it might help 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 & Cash
Your home's value might be working for you
If you've owned your home for a few years, you likely have equity built up—the difference between what your home is worth and what you owe. That equity can be a financial tool. Some borrowers tap it to fund home improvements, pay down other debt, or cover major expenses. Others refinance into a new loan that lets them keep cash on hand. The amount of equity you have, how much you can access, and whether it makes sense depends on your situation and today's rates. It's worth understanding what's actually available to you. If you're curious whether your equity could help, let's talk through your options.
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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
David Schindel
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