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Mortgage Market Update
My Mortgage Company
Jerry Siegel
Tuesday, November 3, 2026
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The money already in your home |
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One of the most overlooked financial tools homeowners have is the equity they build over time. Let me explain what it is and how it works for you.
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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 & Leverage
What your home equity can do for you
If you've been in your home for a few years, or if your property has appreciated, you likely have equity built up. That equity isn't just a number on paper—it's a real financial resource you can tap into when life happens. Whether you're facing unexpected expenses, planning a home improvement, or thinking about consolidating debt, knowing how much equity you have and what options exist can open doors. The key is understanding your options before you need them. I'm happy to walk you through what your equity might mean for your situation and explore whether a cash-out refinance or home equity line of credit makes sense right now. Reach out and let's talk about your equity and what it could mean for your goals.
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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
Jerry Siegel
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