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Mortgage Market Update
My Mortgage Company
Richard Pisnoy
Tuesday, November 3, 2026
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How much equity have you built? |
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Hello! This week I'm thinking about one of the quietest wins of homeownership—and how knowing your numbers can help you make smarter decisions down the road.
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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 is working harder than you think
Every mortgage payment you make builds equity—that's the difference between what your home is worth and what you owe. Over time, this grows into real money you can tap into if you need it. Some borrowers are surprised to learn they have more equity available than they realized, especially if they've been in their home for a few years or if values have shifted in their area. Knowing your equity position matters because it opens doors: you might refinance into better terms, consolidate debt, fund a renovation, or simply understand your financial position better. If you're curious where you stand, I'm happy to give your situation a straightforward look. Let me know if you'd like to talk through your equity and what options might make sense.
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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
Richard Pisnoy
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