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Mortgage Market Update
My Mortgage Company
Joseph A Worrell - For Deletion
Tuesday, November 3, 2026
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What's your home actually worth right now? |
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Hi there. This week I want to talk about something a lot of homeowners overlook: the equity sitting in your property right now.
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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 Awareness
You might have more equity than you think
If you've owned your home for a while, or if your property has appreciated, there's a good chance you've built equity—and that opens doors. Equity is simply the difference between what your home is worth and what you owe on it. You can tap into it through a refinance, a home equity line of credit, or a second mortgage if you need to fund repairs, consolidate debt, or cover a major expense. The key is understanding what you have and whether using it makes sense for your situation. I'd be happy to run a quick look at your home's value and your current loan to show you what options might be available. It's worth knowing what you're working with. Reach out if you'd like to explore what your home equity 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
Joseph A Worrell - For Deletion
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