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Mortgage Market Update
My Mortgage Company
Tyson Wynia — Tyson Wynia
Tuesday, November 3, 2026
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Building equity: what comes next? |
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Hello from the lending desk. I talk with a lot of homeowners who don't realize how much financial power they've already built into their homes.
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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 can do for you
As you make mortgage payments, you're building equity—the difference between what your home is worth and what you owe. That equity isn't just a number on paper; it's real financial flexibility. Depending on your situation, you may be able to tap into it through a home equity loan or line of credit to pay for major repairs, consolidate debt, or cover other needs. The sooner you understand how much equity you have and what options exist, the better you can plan. If you're curious where you stand or want to explore what might be possible, I'd be happy to walk you through it. Reach out anytime—no obligation, just honest conversation about your home and 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
Tyson Wynia — Tyson Wynia
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