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Mortgage Market Update
My Mortgage Company
Sean G Lusk — Sean G Lusk
Tuesday, November 3, 2026
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Your home is building wealth—here's how |
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One of the best parts of owning a home is that your monthly payments are working for you. I wanted to share something important about the equity you're building 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 & Home Value
What your home's equity means for your future
As a homeowner, you're building something valuable with every mortgage payment. That growing difference between what your home is worth and what you owe is equity—and it's more useful than you might think. Equity can be tapped for major expenses, used to refinance into better loan terms, or simply left alone to grow as your home appreciates and your loan balance shrinks. The tricky part is knowing when to use it and when to hold off. If you're curious about how much equity you might have or what options it opens up, I'd love to walk you through it. There's no obligation—just a conversation about what your next move could look like. Let's talk about your home equity and what it could mean 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
Sean G Lusk — Sean G Lusk
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