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Mortgage Market Update
My Mortgage Company
Katie Sindorf
Tuesday, November 3, 2026
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The equity in your home could do more |
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Ideas for how homeowners are putting their built-up equity to work, and whether it might be worth exploring 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 & Access
Your home equity is a tool—here's how to use it
If you've been in your home for a few years, you likely have equity built up—the difference between what your home is worth and what you still owe. That equity can work for you in real ways. Some borrowers tap it to fund home improvements, cover major expenses, or consolidate debt at a better rate. Others simply leave it alone and keep building. The key is knowing you have options and understanding how each one affects your finances. Whether you're curious or ready to move forward, I can walk you through what makes sense for your situation. Let's talk about whether your equity could help you reach a financial goal.
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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
Katie Sindorf
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