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Mortgage Market Update
My Mortgage Company
Brad Powers
Tuesday, November 3, 2026
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Do you know how much equity you have? |
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Hi there. This week I want to remind you of something powerful that's probably already happening in your favor.
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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 Building
Your home is working for you every month
Every mortgage payment you make builds equity—the difference between what your home is worth and what you owe on it. Over time, that equity grows, and it becomes a real financial asset you can tap into if you need it. Whether you're thinking about a renovation, handling an unexpected expense, or planning your next move, understanding your equity position matters. If you haven't checked yours in a while, now's a good time. I can pull a quick estimate and walk you through what options might be available to you. It's one of those straightforward money moves that often gets overlooked. Let's take five minutes to review where you stand—reach out and we'll get you that picture.
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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
Brad Powers
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