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Mortgage Market Update
My Mortgage Company
Spencer Javier
Tuesday, November 3, 2026
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Your equity might be more useful than you think |
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A lot of homeowners don't realize how much financial power they've built into their homes. This week, let's talk about what you can do with it.
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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
As a homeowner, you're building equity with every payment. Over time, that equity can become real financial flexibility. Whether you've owned your home for years or just a few, you may be able to tap that equity through refinancing or a home equity line of credit. It's not about overspending—it's about having options when life happens. A new roof, a child's education, consolidating higher-rate debt, or starting a project: equity lets you borrow against what you've already built in your home, often at favorable terms. The key is understanding what makes sense for your situation and your timeline. If you're curious whether your equity could work for you, I'd love to walk through the options. Reach out and we can talk through what your equity means 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
Spencer Javier
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