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Mortgage Market Update
My Mortgage Company
Kailey Pukini
Tuesday, November 3, 2026
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Should you borrow against your home? |
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One of the best things about homeownership is building equity over time. But knowing you have it and knowing what to do with it are two different things.
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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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Home Equity
When tapping your home equity makes sense
If you've been in your home for a few years, you may have built meaningful equity—that's the difference between what your home is worth and what you owe. That equity can be a financial tool. Some borrowers use it to cover major expenses, consolidate debt, or fund home improvements. But borrowing against your equity isn't automatic—it depends on your situation, your goals, and whether the numbers actually work in your favor. The key is understanding your options and running the math beforehand, not just jumping in. I'm here to help you think through whether a cash-out refinance or home equity line of credit makes sense for your circumstances. Let's talk about whether your equity could work for you—give me a call or shoot me a message.
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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
Kailey Pukini
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