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Mortgage Market Update
My Mortgage Company
Robie Chapa's Team
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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Every mortgage payment you make builds ownership. Here's what that means 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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Home Equity
Your home's value is working for you
If you've owned your home for a while, you likely have equity built up—the difference between what your home is worth and what you owe on it. That equity is real money, and it opens doors. Some borrowers tap into it for major expenses, home improvements, or consolidating debt. Others leave it alone and that's fine too. The point is understanding what you have available to you, and knowing your options means making smarter decisions when life happens. Whether you're curious about what your equity could do or just want to understand your position better, I'm here to walk you through it without pressure. Let's talk about your home's equity and what makes sense for your situation.
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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
Robie Chapa's Team
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