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Mortgage Market Update
My Mortgage Company
Jaclyn Richards
Tuesday, November 3, 2026
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What your home equity could do for you |
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Good morning. This week I want to talk about something many homeowners overlook—the real wealth they've already built.
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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 & Refinancing
Your home's worth might be doing more than you think
If you've owned your home for a few years, you likely have built equity—the difference between what your home is worth and what you owe on your mortgage. That equity can be a real financial tool. Some homeowners tap it to pay off high-interest debt, fund home improvements, or cover major expenses. Others refinance into better loan terms if rates or their credit score have moved in their favor. The key is understanding what you actually have to work with. A quick conversation about your home's current value and your loan balance can reveal options you didn't know existed. I'm here to walk you through what makes sense for your situation. Let's take a look at your equity and talk through your options.
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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
Jaclyn Richards
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