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Mortgage Market Update
My Mortgage Company
Grisel Maldonado
Tuesday, November 3, 2026
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Turning home equity into opportunity |
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Every mortgage payment is building something meaningful. Here's what many homeowners overlook about the equity they're quietly creating.
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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
One of the best parts of homeownership that often flies under the radar: every payment you make builds equity. Over time, that adds up to real financial flexibility. Whether rates move up or down, the equity you've built stays with you—and there are real options available if you ever need to tap into it, from a home equity line of credit to a cash-out refinance. The key is knowing what you have. I'd encourage you to take a look at your home's current value and what you still owe. If it's been a while since you've thought about your equity position, we should talk. It might open up possibilities you didn't know existed. Let's review your equity and see what options might work 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
Grisel Maldonado
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