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Mortgage Market Update
My Mortgage Company
Jessica Portillo — Jessica Portillo
Tuesday, November 3, 2026
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How much ownership do you actually have? |
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Home ownership is about more than having a place to live. Every payment you make is an investment in your future.
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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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Home Equity
Your home is working for you right now
Every month your mortgage payment builds ownership in your home. That's equity—real wealth sitting in the walls and foundation. If you've owned your home for a few years, you likely have more equity than you realize. Some borrowers tap into that equity when they need funds for major expenses, home improvements, or other financial goals. It's worth knowing what you have available and how you might use it. The best time to explore your options is before you need the money, not after. I'd be happy to walk you through what your equity picture looks like and what programs might fit your situation. Reach out anytime—let's talk about what your home's 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
Jessica Portillo — Jessica Portillo
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