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Mortgage Market Update
My Mortgage Company
Tyson Wynia — Tyson Wynia
Tuesday, November 3, 2026
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How much equity do you have in your home? |
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Hi there—I wanted to touch base this week on a topic that often gets overlooked until someone needs it. Your home equity can be one of your biggest financial assets, and it's worth understanding.
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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
What your home equity means right now
If you've owned your home for a while, you've likely built up equity—the difference between what your home is worth and what you still owe on your mortgage. That equity isn't just a number on paper. It can be a financial resource if you need it, whether for home repairs, education, or other major expenses. Some borrowers tap into their equity through a refinance or a home equity line of credit. Others simply know it's there as a safety net. Either way, understanding how much equity you have and what it could mean for your situation is worth doing every few years. I'd be happy to walk you through where you stand and what your options might look like. Let's talk about your equity and what it could 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
Tyson Wynia — Tyson Wynia
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