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Mortgage Market Update
My Mortgage Company
Seth Domnarski
Tuesday, November 3, 2026
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What you should know about your home equity |
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Hi there. Every month, you're building something valuable in your home. I wanted to walk you through why it matters.
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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 & Borrowing
Your home equity is working whether you use it or not
As a homeowner, you're building equity with every mortgage payment you make. That's real financial value sitting in your home. Some people never think about it until they need cash for a big expense—a renovation, a car, education, or emergency. Others tap into it strategically when the timing makes sense. The point is, understanding what you have available gives you options. If you've owned your home for a few years, you may have more equity than you realize. Knowing your position—whether you decide to use it or not—is just smart money sense. I'm always happy to run the numbers and show you what's possible. Reach out if you'd like to talk through your equity and what borrowing options might look like 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
Seth Domnarski
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