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Mortgage Market Update
My Mortgage Company
Simply Laundry
Tuesday, November 3, 2026
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How much equity do you have now? |
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One of the best parts of homeownership is that your monthly payment is doing double duty. I wanted to walk you through how that works and 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 quietly working for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you still owe. Over time, this equity can become real money you can access if you need it. Some people tap into home equity to cover major expenses, fund renovations, or consolidate debt. Others just let it grow. Either way, understanding what you've built is worth a conversation. If you've owned your home for a few years or paid down a meaningful amount, there's a good chance you have more options available than you realize. I'd like to sit down with you and show you exactly where you stand—no pressure, just clarity. Knowing your equity position helps you make smarter decisions about your money. Let's talk about what your home has built 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
Simply Laundry
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