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Mortgage Market Update
My Mortgage Company
Spencer Javier
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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Every month you make a mortgage payment, something important happens—you're building ownership. That's equity, and 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 & Access
Your home equity could unlock new options
If you've been in your home for a few years, you've likely built up equity—the difference between what your home is worth and what you owe. That equity isn't just a number on paper; it can be a real financial tool. Whether you're thinking about a major home project, consolidating debt, or funding something important, knowing what you have to work with changes the conversation. The type of loan or line of credit that makes sense depends on your goals and timeline. I'd be happy to walk through what options might be available to you and whether tapping into your equity makes sense right now. Curious what your equity position looks like? Let's talk through it.
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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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