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Mortgage Market Update
My Mortgage Company
Jared Fuller — Jared Fuller
Tuesday, November 3, 2026
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Have you checked your home equity lately? |
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Hi there—I hope you're doing well. This week I want to touch on something a lot of homeowners overlook.
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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 & Borrowing
You might have more borrowing power than you realize
If you've been in your home for a few years, you may have built up equity—the difference between what your home is worth and what you owe. That equity can be a real financial tool. Some borrowers use it to consolidate debt, fund a renovation, or cover a major expense. The way you access it matters, though. Different loan programs have different terms, costs, and timelines. Before you decide how to tap into your equity, it's worth understanding your options and what each one actually costs over time. I'm here to walk you through what makes sense for your situation. Let's talk about whether your equity could work for you right now.
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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
Jared Fuller — Jared Fuller
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