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Mortgage Market Update
My Mortgage Company
Lynn Berry — Ryan Berry
Tuesday, November 3, 2026
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What is your home actually worth to you? |
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You've probably heard the word "equity" thrown around, but it's worth understanding what it really means for your finances. Here's a straightforward look at why it matters.
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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
Your home is working for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe on it. Over time, this grows into real financial strength. The sooner you understand how much equity you may have, the sooner you can make smarter decisions: whether that's refinancing to better terms, tapping into it for a major expense, or simply knowing your net worth is climbing. Your equity is one of the most powerful tools available to you as a homeowner, and it's easy to overlook. I'd like to help you take a fresh look at where you stand and what your options might be. Let's talk about your equity and what it could mean for your future.
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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
Lynn Berry — Ryan Berry
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