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Mortgage Market Update
My Mortgage Company
Austen Smith
Tuesday, November 3, 2026
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What's your home equity worth right now? |
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Hello,
Every month you make a mortgage payment, you're building something valuable. Here's how to make the most of 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 Strategy
Your home equity is working—are you?
If you've owned your home for a few years, you likely have equity built up. That's real money sitting in your property, and there are smart ways to put it to work for you. Whether you're thinking about a major home project, managing other debt, or planning ahead, understanding your options—from home equity loans to lines of credit to refinancing—gives you flexibility when life happens. The key is knowing what you have and what makes sense for your situation. I'd love to walk you through the possibilities and help you figure out a strategy that works for your goals. Let's talk about what your equity can do 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
Austen Smith
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