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Mortgage Market Update
My Mortgage Company
Julie Jacobsen
Tuesday, November 3, 2026
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What's your home actually worth right now? |
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Hi there. I wanted to share something I see help a lot of homeowners: understanding the equity they've already built.
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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
The money you're already making in your home
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe. Over time, this becomes real wealth. But here's what many homeowners miss: you might have equity available right now, even if you haven't paid down much of the loan yet. Home values shift, neighborhoods appreciate, and renovations add value. Knowing what you've built matters, because it opens doors. Equity can help you cover big expenses, consolidate debt, or fund improvements without starting over with a new loan. The first step is simple: let's talk about what your home is worth and what options that creates for you. Reach out if you'd like to explore what equity you may have built.
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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
Julie Jacobsen
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