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Mortgage Market Update
My Mortgage Company
Kaleb Melville — Kaleb Melville
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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Each month of homeownership brings you closer to real financial flexibility. Here's what you need to know.
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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 & Access
Your home's value might unlock more options
As time passes and your home builds equity, you're sitting on a potential resource. That equity can be used to refinance into better terms, cover major expenses, or consolidate debt—but only if you know it's there and understand what you qualify for. The catch: your home's actual value and the equity you've built depend on your specific situation, your market, and how much you've paid down. I recommend getting a current assessment of what you own versus what you owe. That conversation doesn't lock you into anything; it just gives you real information about what's available to you. Having options is always worth knowing about. Let's talk about your equity and what it might mean for your financial plans.
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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
Kaleb Melville — Kaleb Melville
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