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Mortgage Market Update
My Mortgage Company
Seth Domnarski
Tuesday, November 3, 2026
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How much equity do you have right now? |
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Hi there, I hope things are going well. This week I want to talk about something that builds quietly in the background of homeownership—and 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 Building
Your home equity can be a real tool
One of the best parts of owning a home is that every mortgage payment builds equity—the difference between what your home is worth and what you owe. Over time, that equity grows, and it can become a resource if you need it. Some homeowners tap into their equity through a cash-out refinance or a home equity line of credit to pay for repairs, education, or other major expenses. Others simply let it grow as a nest egg. The key is knowing what you have and understanding your options before you need them. If you've been in your home for a while, you may have more equity than you realize. It's worth a conversation. If you'd like to talk through what your equity might look like and what you could do with it, I'm here to walk you through it.
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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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