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Mortgage Market Update
My Mortgage Company
Scott Reed
Tuesday, November 3, 2026
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The equity sitting in your home right now |
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Hi there. This week I want to walk you through something a lot of homeowners overlook—and it could actually help you when you need it most.
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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
You might have more borrowing power than you think
If you've been a homeowner for a while, your home may have built up equity—that difference between what your home is worth and what you still owe. That equity can unlock options: a cash-out refinance to pull money out for repairs, debt payoff, or other needs; a home equity line of credit for flexible access to funds; or simply knowing you have a cushion there if life happens. The catch is that equity doesn't help you unless you know it exists and understand how to use it. I often talk to homeowners who were surprised to learn what they'd built up over the years. If you haven't thought about your equity in a while, it might be worth a conversation. Let's talk about what your home equity could mean 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
Scott Reed
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