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Mortgage Market Update
My Mortgage Company
Spencer Javier
Tuesday, November 3, 2026
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How much equity do you have right now? |
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One question I hear less often than I should: 'How much equity am I building?' Let me explain 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 Awareness
Do you know how much equity you have?
A lot of homeowners don't realize how much ownership they've built up in their homes. Every mortgage payment you make builds equity—the difference between what your home is worth and what you still owe. That equity can matter more than you think, whether you're planning to stay put for decades or considering a move down the road. Knowing your number also opens doors: you may have options if you ever need to borrow, refinance, or make a financial move. The best part is it's simple to find out. If you're curious where you stand, I'd be happy to walk you through it. Reach out anytime—I'm here to help you understand your home's financial picture.
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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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