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Mortgage Market Update
My Mortgage Company
Ann Richardson
Tuesday, November 3, 2026
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How much equity have you built? |
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Most homeowners don't think about equity until they need it. But it's worth understanding now.
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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 equity in your home is working for you
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe. Over time, this becomes real wealth. If you've owned your home for a few years, you may have more equity than you realize. Some borrowers find out they can tap into that equity if they need cash for home improvements, education, or other big expenses. The key is understanding what you have and whether it makes sense for your situation. If you're curious about your options, I'd love to walk you through the numbers. Get in touch if you'd like to explore what your equity might 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
Ann Richardson
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