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Mortgage Market Update
My Mortgage Company
Robbie Keach
Tuesday, November 3, 2026
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Have you thought about your home equity? |
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One of the best parts of homeownership is building wealth over time. Here's what you should know about the equity sitting in your home.
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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 & Options
Your home equity is a financial tool
If you've owned your home for a few years, you've likely built equity—the difference between what your home is worth and what you still owe. That equity can be useful when you need it. Some borrowers tap it to fund home improvements, consolidate debt, or cover major expenses. Others leave it alone and keep building. There's no one right answer, but it's worth knowing what options exist and when they might make sense for your situation. The key is understanding what you have and thinking clearly about whether borrowing against it serves your goals. If you'd like to talk through whether your equity could work for you, I'm here to help.
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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
Robbie Keach
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