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Mortgage Market Update
My Mortgage Company
Spencer Javier
Tuesday, November 3, 2026
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How much equity are you sitting on? |
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A lot happens to your home over time—both to its value and to what you owe on it. I wanted to share something that often surprises homeowners.
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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 equity is growing faster than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe. As you pay down your principal, that equity grows. And if your home's value has risen since you bought, that's equity too. Understanding how much you've built matters because it opens doors: you may be able to tap into it for major expenses, home improvements, or other financial goals. Whether you're curious about a home equity line of credit, a cash-out refinance, or just want to know where you stand, I can help you figure out what makes sense for your situation. Let's talk about what your equity could do 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
Spencer Javier
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